Reliance to acquire Walt Disney News: the groundbreaking deal in the Entertainment sector.

Reliance to acquire Walt Disney news

Reliance to acquire Walt Disney news: The richest man in India and Asia Mukesh Ambani owner of Reliance Industries and JIO is ready to acquire Walt Disney India’s operations. The nonbinding agreement has been signed in London.

For the last few months, Reliance to acquire Walt Disney News was everywhere. Now, news has been confirmed by the officials. The nonbinding agreement has been signed by both the parties. The merger between Reliance Industries and Walt Disney operations will be a cash-and-share deal.

Reliance to acquire Walt Disney news

51% equity will be held by Reliance Industries and 49% equity will be held by Walt Disney. According to the reports, after completing all necessary documents and legal processes this deal will be completed at the end of February but Reliance Industries wants this deal to be completed before February.

Mukesh Ambani is one of the biggest players in the telecommunications sector. JIO is almost ruling the market in its sector in India. After capturing the Telecommunications sector, Mukesh Ambani wants to capture the Media and Entertainment sector.

Reliance to acquire Walt Disney news

Viacom18 is owned by Mukesh Ambani, In the deal, a unit will be created under Reliance’s Viacom18 to take control of Star India through a stock swap. With this deal, Reliance and Disney may invest 1 billion to 1.5 billion dollars. This is the biggest deal in the Entertainment sector.

The reason behind the merger of Disney Star India and Reliance is, that Disney India is going through a huge loss and their paid subscribers also leaving the platform and other OTT Platforms for their entertainment. Disney Star in India posted $444 million operating losses just from the sports business. Not only lose, but they also lose their paid subscribers consistently. They lost 12.5 million OTT subscribers this year. This is why Disney Star is willing to merge with Reliance Industries.

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