Disney and Mukesh Ambani’s Reliance Industries have joined forces to create a new media giant in India, aiming to reach a domestic audience of over 750 million people. The joint venture, worth about $8.5 billion, combines their digital streaming platforms and 100 TV channels in the country. Reliance will own just over 63% of the new entity, mostly through its Viacom18 subsidiary, with Disney holding the rest. Nita M. Ambani, Mukesh Ambani’s wife, will be the chairperson of the joint venture. The venture combines Disney’s acclaimed films and shows with Viacom18’s renowned productions and sports offerings, catering to the Indian diaspora worldwide.
Read more at: https://edition.cnn.com