Reliance Industries Limited and Walt Disney have merged to create a media giant valued at US$ 8.5 billion, aiming to enhance their market presence and content offerings in India.

Target Information

On February 28, 2024, Reliance Industries Limited and Walt Disney finalized a merger agreement to form a media conglomerate valued at approximately US$ 8.5 billion (equivalent to Rs. 70,352 crore). Nita M Ambani is anticipated to chair the board of the newly merged entity, with Reliance and its affiliates controlling a majority stake of 63.16%—16.34% held by Reliance Industries Limited (RIL) and 46.82% by Viacom18, while Walt Disney maintains a 36.84% interest.

The merger grants the combined entity exclusive distribution rights for Disney films within India and access to a vast library of over 30,000 Disney assets, thereby enriching their entertainment portfolio. With a collaborative total of 120 television channels and two digital streaming platforms, Disney and Reliance aim to engage a substantial user demographic of 750 million across India.

Industry Overview in India

As of 2023, India has emerged as a dynamic landscape for Mergers and Acquisitions (M&A), achieving more than 90 transactions valued collectively at approximately US$ 32 billion. Notable sectors driving this activity include renewable energy, infrastruct