As part of the transaction, the media undertaking of Viacom18 will be merged into Star India through a court approved scheme of arrangement. In addition, RIL has agreed to invest $1.4 billion (11,500 crore) into the JV for its growth strategy. While RIL will own a 16.34% stake in the combined entity, Viacom18 and Disney will have 46.82% and 36.84%, respectively. Nita Ambani will be the chairperson of the JV and Uday Shankar will be the vice-chairperson.
The transaction is expected to be completed by the last quarter of calendar year 2024 or by early 2025, the companies said, subject to regulatory and shareholder approvals.
Disney will provide a content licence to the JV and may also contribute certain additional media assets to the JV, it said.
This will include a licence to more than 30,000 Disney content assets apart from the exclusive rights to distribute Disney films and productions in India.
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