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In October 2024, Employees of RIL revealed that Disney+ Hotstar and JioCinema will officially merge into a single platform. Back in February 2024, Reliance and Disney agreed on a $8.5 billion merger of their media assets. Nita Ambani will serve as the chairperson of the merged entity while Uday Shankar from Bodhi Tree Systems will be the vice ...
Reuters reported last month that Disney Hotstar's CEO Sajith Sivanandan resigned from the role as business integration gathered pace for the merger. The entertainment division will be led by Kevin ...
Although Disney CEO Bob Iger refuted claims of a sale during a third-quarter earnings call, it was announced in December 2023 that Disney and Reliance had signed a non-binding term sheet for a merger. According to its terms, Reliance would hold 51% of the merged company in cash and stock, while Disney would own the remaining 49%.
On May 14, 2024, It was reported the deal between Disney and Reliance was approved by National Company Law Tribunal, with the JioCinema streaming service being moved to the Digital18 unit as part of the merger. [33] [34] On 28 August 2024, the CCI has approved the merger of Disney+ Hotstar with Viacom18. [35]
India’s entertainment landscape shifted Thursday as Reliance Industries and Disney completed their long-awaited media merger, creating an Indian powerhouse valued at $8.5 billion. The deal ...
Disney’s dominance has been challenged by the Ambani-controlled Viacom18 group and its suite of Jio-branded operations that stretch from mobile phones, to broadband internet and, latterly ...
Unlike Disney+ Hotstar-branded services, however, the Star brand is used as an equivalent to Disney's U.S. streaming brand Hulu (which has less recognition outside of the U.S.), and generally consists of a content hub added to existing Disney+ services (unlike Disney+ Hotstar, which is based on Hotstar's platform).
The merger values the India business of the U.S. entertainment giant at just around $3 billion, far lower than the roughly $15 billion valuation when Disney acquired it as part of its Fox deal in ...