BILLIONAIRE MUKESH AMBANI'S Reliance Industries Ltd. (RIL) and The Walt Disney Company have agreed to merge their digital streaming and television assets in India, creating an $8.5-billion media behemoth spanning at least 100 channels across entertainment and sports, and two digital streaming platforms. The entity also has exclusive rights to sporting events like the Indian Premier League (IPL) and Disney films and productions in India, as well as a diverse international content library.
The former rivals, who were locked in an intense battle over IPL rights until recently, have agreed to form a joint venture (JV) that will solidify RIL's position in the Indian M&E space and reduce Disney's presence in the country amid intense competition.
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