Disney and Reliance Secure Approval for $8.5 Billion Merger, Set to Form India’s Largest Entertainment Company
Walt Disney Co. and Reliance Industries have secured regulatory approval for an $8.5 billion merger of their media assets in India, paving the way to establish the country’s largest entertainment powerhouse.
* Viacom18, primarily owned by Reliance, operates 40 television channels, including well-known brands like Comedy Central, Nickelodeon, and MTV.
* Viacom18 holds the broadcasting rights for domestic and international cricket matches governed by the Board of Control for Cricket in India, while Disney retains the TV rights for the Indian Premier League (IPL) through 2027.
* Disney Star, a prominent name in Indian television, boasts around 80 channels recognized for Hindi family dramas and popular Hollywood films.
* The merged channels will encompass a diverse array of content, including general entertainment, sports, children’s programming, documentaries, and lifestyle shows, with extensive regional language offerings.
* According to a report by the Federation of Indian Chambers of Commerce and Industry and EY, Disney’s Hotstar was the second-most downloaded video streaming application in India in 2022, following MX Player.
* Disney’s streaming offerings include global hits, Marvel movies, and National Geographic documentaries, with the platform streaming seven of the top 15 most-watched original shows in India last year, as per media consulting firm Ormax.
* Disney currently holds the digital rights for International Cricket Council (ICC) matches in India until 2027, while Reliance’s JioCinema has acquired the streaming rights for the IPL after successfully outbidding Disney.
* The combined platforms of Reliance’s JioCinema and Disney’s Hotstar will feature a vast library exceeding 200,000 hours of content, ranging from TV dramas and films to live sports events.
* In 2022, JioCinema formed partnerships with The Pokémon Company for streaming content and signed a deal with Warner Bros to enhance its library with more Hollywood and international titles.
