Reliance Industries, Disney complete merger to form Rs 70,352 crore media giant

Reliance Industries and Walt Disney Company have completed the merger of their assets in India to create a ₹70,352 crore ($8.5 billion) media monolith.

Reliance Industries said on Thursday that they had received all the regulatory approvals for the merger that was announced in February.

As part of the transaction, RIL has also invested ₹11,500 crore ($1.4 billion) in the joint venture. RIL will hold a 16.34 per cent stake in the venture while its step-down subsidiary, Viacom 18, will own 46.82 per cent. Disney’s stake is capped at 36.84 per cent.