Millions of soccer fans in the world's two most populous nations may not be able to watch the World Cup that starts next month, due to a deadlock over broadcast rights in India and no official decision in China.
Reliance Industries Limited (RIL), Viacom18 Media (Viacom18), and The Walt Disney Company announced on Thursday that they have completed the merger of Viacom18's media and JioCinema businesses into Star India (SIPL), creating a mega joint venture valued at Rs 70,352 crore. The new entity will be guided by three chief executive officers (CEOs), "who will lead the company into a new era of ambition and disruption", according to a joint statement. Kevin Vaz will lead the entertainment division across all platforms, Kiran Mani will head the combined digital division, and Sanjog Gupta will oversee the sports operations.
'The whole narrative will change from TV is dying to TV-plus-digital is the future.'
Billionaire Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney and formed a joint venture with a valuation of over Rs 70,000 crore. The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson, according to a joint statement.
Reliance Jio said certain tariff plans will continue to give subscribers free streaming access to IPL 2025.
The Reliance-Disney joint venture's new, rebranded streaming app JioHotstar will offer subscription plans starting at Rs 149.
Chairman Arun Dhumal said they are considering expanding IPL to a full home-and-away format with 94 matches from 2028 onwards.
Reliance-Disney skips bidding
The CCI has asked the companies to explain within 30 days why an investigation should not be ordered.
A non-strategic investor like Poonawalla brings in not only capital but also creative freedom. Indian cinema needs more investors like him, reports Vanita Kohli Khandekar.
'What is Balaji without Ekta (Kapoor), what is Dharma without Karan (Johar?)'
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.
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.
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