Reliance and Disney are in discussion to merge their India media business and it is reported that Reliance is set to pick up a 51%-54% stake valuing the US giant's domestic business at $3.5 billion. A joint venture between James Murdoch and Uday Shankar - Bodhi Tree may also take a stake of around 9% in the merged entity. The two companies aim to sign a binding deal in February.
Both the companies have a streaming service and 120 television channels between them. The companies are in discussion for weeks so that they can create an entertainment superpower in India.
If the deal succeeds then Reliance’s broadcast division Viacom 18 will merge with Disney India businesses.
Meanwhile, Disney's India assets have halved to $4.5 billion, less than the $10 billion the US entertainment giant has previously pursued, according to a news report.
Zee Entertainment’s backing out from a $1.4 billion deal is the reason behind the dip in the valuation of Disney's India unit.
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