BT Magazine Exclusive Interview With Uday Shankar, Vice Chairperson Of Reliance-Disney Media JV

Reliance Industries Limited, Viacom 18 Media Private Limited and The Walt Disney Company announced that following the approval by the NCLT Mumbai, Competition Commission of India and other regulatory authorities, the merger of the media and JioCinema businesses of Viacom18 into Star India Private Limited has become effective (the “JV”). In addition, RIL has invested ₹11,500 crore into the JV for its growth. The JV has allotted shares to Viacom18 and RIL as consideration for the assets and cash, respectively. The transaction values the JV at ₹ 70,352 crore on a post-money basis, excluding synergies. At the closing of the transactions noted above, the JV is controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18 and 36.84% by Disney. Nita Ambani will be the Chairperson of the JV, with Uday Shankar as Vice Chairperson of the JV. Watch BT Magazine Exclusive Interview with Uday Shankar, Vice Chairperson of the Reliance-Disney Media JV, in conversation with Siddharth Zarabi, Editor of Business Today, and Krishna Gopalan, Executive Editor of Business Today.