Reliance Industries has announced a joint venture with Walt Disney on February 28. It is believed that this joint venture made by both the companies will have a great impact on the entertainment industry. In this article, we are going to tell the main points of the agreement between the two companies in 10 points.
5 main points of the agreement between Reliance and Disney
- The value of the new joint venture of both the companies has been estimated at Rs 70,352 crore. RIL will invest Rs 11,500 crore to expand the business of the new company.
- In this new joint venture, 16.34 percent stake will be held by RIL and 46.82 percent stake will be held by Viacom 18. At the same time, Disney will hold 36.84 percent share.
- After the merger, the total audience of the new company is believed to be more than 75 crores. Experts believe that this has a great impact on the entertainment media.
- Nita Ambani will be the chairperson of the new merged company. At the same time, Walt Disney executive Uday Shankar will take charge as vice chairperson. The new board will have a total of 10 members. There will be 5 directors from RIL, 3 from Disney and two independent directors.
- In this joint venture, the business of Star India has been valued at Rs 28,000 crore and the business of Viacom 18 has been valued at Rs 32,000 crore. The value of Star India’s business has decreased significantly compared to 2018. At the time of its sale to Disney, the value of its Star India business was estimated at $15 billion.
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