Reliance, Disney complete merger; form Rs 70,352 crore joint venture

Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney to form a new joint venture worth Rs 70,352 crore.

The JV, in which Reliance Industries has invested Rs 11,500 crore (USD 1.4 billion) for its growth, will be headed by Nita Ambani as its Chairperson, according to a joint statement.

“The transaction values the JV at Rs 70,352 crore (USD 8.5 billion) on a post-money basis, excluding synergies,” it said.