Disney and Reliance Form $8.5B Indian Media Powerhouse in Major Deal
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- Disney and Reliance merge forming India's media powerhouse.
- Nita Ambani chairs; Uday Shankar is vice chair of the venture.
- Deal cleared by India, EU, China, South Korea, and more.
- Reliance injects $1.4B; estimated revenue hits $3.1B for 2024.
- Venture's digital subscribers exceed 50M via JioCinema and Hotstar.
- New venture dominates TV, digital, and sports content rights.
- Bob Iger emphasizes expanded market and robust offerings.