Combines UTV, Disney, Indiagames businesses to drive growth in mobile, online, interative TV
Walt Disney CEO Michael Eisner, who is in India on an official visit, on Tuesday met Prime Minister Manmohan Singh.
Rajat Jain, managing director, Walt Disney India has decided to leave the company to pursue new opportunities after a three-year stint.
Indiagames is a leading developer and publisher of mobile and online games.
Walt Disney is planning to open 135 more stores in India over the next four years.
The Finance Ministry further said decision on seven FDI proposals has been deferred.
Siddharth Roy Kapur will take charge as managing director of the Walt Disney Company India from January 1.
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 animated blockbuster 'Hanuman' would be telecast as a mini-serial on Disney Channel soon.
Disney Publishing Worldwide (India), a division of Walt Disney Company (India), has announced a licensing agreement with local publisher Junior Diamond to publish Disney comic books, both in English and Hindi.
Mukesh Ambani-owned Reliance Industries (RIL) is in discussions to acquire a 29.8 per cent stake in Tata Play from the Walt Disney Company, according to sources close to the development. This move is seen as part of RIL's broader strategy to deepen its footprint in India's television distribution sector. Tata Sons, the holding company of the Tata group, currently holds a 50.2 per cent stake in the satellite television broadcaster.
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.
The Competition Commission of India (CCI) has flagged possible anti-competitive concerns with respect to the proposed USD 8.5-billion Viacom18-Star India merger and has sought detailed responses from the parties concerned, sources said.
After Do Dooni Chaar, the first Hindi live-action movie distributed by The Walt Disney Company (Disney) in India, won a National Award, the Hollywood studio tied up with UTV Motion Pictures (UTV) for more.
Competition Commission of India on Wednesday said it has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country's largest media empire. The deal, announced six months ago, has been cleared by the CCI with certain modifications proposed by the two parties.
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.
'Our intention is to make Disney-branded clean family movies for the entertainment of the local Indian market.'
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.
Indus Clothing will manufacture branded jeans and fashion accessories in India.
'The whole narrative will change from TV is dying to TV-plus-digital is the future.'
Disney had bought digital and streaming rights to show the ICC's tournaments in India
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.'
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.
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.
The CCI has asked the companies to explain within 30 days why an investigation should not be ordered.
Hotstar on Friday said it will offer the Asia Cup and ICC Men's Cricket World Cup tournaments at no cost to users.
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.
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.
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.
Reliance Communications, Reliance Infratel, Huawei Technologies and Walt Disney Company (India) are among the companies which misused or diverted funds raised from abroad under the ECB route in the last three years, Parliament was informed on Friday.
'As you're watching the IPL live, there's a conscious effort to showcase the entertainment portfolio.'
Having established its licensing business for a decade, it is tapping real estate to build on its themes.
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