Reliance has announced that it will invest Rs11500 crore in the joint venture with Disney

[Reliance Disney Announce Joint Venture to Merge Digital Streaming and TV Assets in India]( [Reliance and Disney on Wednesday announced a strategic joint venture that will merge their digital streaming and television assets in India. The merger will result in Reliance combining the businesses of Viacom18 and Star India into a single unit called Star India Private Limited SIPL through a courtapproved scheme of arrangement. Reliance Industries Limited RIL will control 16.34 percent of the joint venture whereas the other two parties Viacom18 and Disney will control 46.82 percent and 36.84 percent respectively. Reliance has also agreed to invest Rs. 11500 crore in the venture which will be used to determine its growth strategy. The stakeholders have stated that the transaction values the joint venture at Rs. 70352 crore on a postmoney basis. The Chairperson of the new business unit will be Nita Ambani and Uday Shankar the CoFounder of Bodhi Tree Systems will hold the position of Vice Chairperson and offer strategic advice. This merger is also expected to unite two of India leading digital streaming platforms JioCinema and Disney plus Hotstar.]( [Read More]( To Unlist [Click Here](