Disney, Reliance clinch India media merger pactBloombergWalt Disney Co and Reliance Industries Ltd have signed a binding pact to merge their media operations in India, people familiar with the matter said, as the US entertainment giant recasts its strategy amid intense competition in the world’s most-populous country. The media unit of Reliance, controlled by billionaire Mukesh Ambani, and its affiliates are expected to own at least 61 percent in the merged entity, with Disney holding the rest, the people said. Disney and Reliance logos are seen in this illustration taken December 15, 2023. Disney owns a minority stake in broadcast service provider, Tata Play Ltd, which Reliance might consider acquiring, local news reports said. Disney has been grappling with challenges in India, such as retaining subscribers and securing coveted media assets, while Reliance has cornered a larger slice of the local media and entertainment businesses in recent years.
