Walt Disney Co and Reliance Industries on Wednesday announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. Reliance and its affiliates will hold 63.16 per cent in the combined entity while Disney will hold the remaining 36.84 per cent, the companies said in a statement.
The CEOs have been discussing a collaboration for some time, according to two people with knowledge of the situation.
Paramount Global has agreed to sell its 13 per cent stake in its Indian TV business to Reliance Industries for Rs 4,286 crore, the Indian firm said on Thursday. In a stock exchange filing, Reliance said it has signed a binding agreement with two subsidiaries of Paramount Global to acquire 13.01 per cent equity stake of Viacom 18 Media Private Limited held by Paramount Global. Similarly, in a filing on the US Securities and Exchange Commission (SEC), Paramount Global said the closing of the transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals, as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
The CCI has asked the companies to explain within 30 days why an investigation should not be ordered.
Much of the discussion is happening at a "family level, not a corporate level". That means it is an Ambani or a Goenka in direct talks with Johar.
Hotstar on Friday said it will offer the Asia Cup and ICC Men's Cricket World Cup tournaments at no cost to users.
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Reuters reported earlier this week that the Competition Commission of India (CCI) has sent a warning notice to the companies expressing concern that the merged entity will effectively have a monopoly on cricket broadcast rights worth billions of dollars, allowing it to squeeze advertisers.
Tennis icon Leander Paes and actress Kim Sharma appeared to have a ball at the Walt Disney theme park in Florida.
The venture, they said, would focus on technology and media opportunities in emerging markets. Industry sources said the focus would be on digital media, with India being the big driver.
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Disney Star is mulling legal actions against Zee Entertainment for backing out from a $1.4 billion sub-licensing agreement for TV broadcast of international cricket matches in India, according to industry sources. This could brew another legal trouble for Zee Entertainment Enterprises Ltd (ZEEL), which is already facing an arbitration plea by Sony Group at the Singapore International Arbitration Centre, claiming $90 million for breach of conditions of their merger agreement. Disney Star, an Indian subsidiary of media conglomerate The Walt Disney Company, is working on its strategy over the development, said industry sources.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
Analysts have given a thumbs up to the Reliance Industries (RIL) and Walt Disney Co. (Disney) proposed a joint venture (JV). The stock of the Mukesh Ambani-controlled company gained nearly 1.5 per cent on Thursday to Rs 2,952 levels as compared to the S&P BSE Sensex that traded marginally weak, down 0.2 per cent to 72,172 levels in intra-day trades.
Under the deal, reportedly worth more than $250 million, international matches and the domestic Big Bash League for men and women will be beamed to India "and other territories across Asia" from the 2023-24 season.
According to Andy Bird, chairman of Walt Disney International, theme park investment requires massive support infrastructure such as airports, power supply and roads, still not available in India.
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
Walt Disney Company has unveiled a revamped Disneyland California Adventure Park spending a whopping $1.1 billion.
The proposed transaction has been approved by the boards of both companies.
The Securities and Exchange Board of India has approved The Walt Disney Company's deal to increase stake in Ronnie Screwvala-promoted UTV Software Communications beyond 15 per cent, six months after the deal was initially signed. Sebi, the market regulator, has also okayed the US-based company to launch an open offer.
Disney characters will now speak Telugu. Walt Disney Television International, that operates three children's channels in India, is introducing a two-hour Telugu band on its flagship Disney Channel. The channel is currently available in English and Hindi languages.
The animated blockbuster 'Hanuman' would be telecast as a mini-serial on Disney Channel soon.
While the first five stores will come up in Mumbai, Delhi and the National Capital Region by the end of this fiscal, a total of 150 Disney Artist stores will be set up in India by 2011.
Leading integrated media and entertainment company UTV Software Communications Ltd has decided to divest its entire stake in United Home Entertainment Ltd to the Walt Disney Company
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It also said that to make it easier for people to subscribe, Disney+ Hotstar VIP has tied up with telecom players Jio and Airtel.
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Nine more NBA players have tested positive for COVID-19, less than a week before teams are set to travel to Florida to resume the 2020 season. A total of 25 players and 10 team staff members have tested positive for the novel coronavirus since testing began on June 23, the National Basketball Association said in a statement on Thursday.
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