Reliance's Viacom18 to Acquire Majority Stake in Disney's India Unit
TL;DR
Reliance-backed Viacom18 is set to acquire 60% of Disney's India unit, valued at $3.9 billion, creating a potential $10 billion media giant in the South Asian market. The deal, expected to close this month, will see Disney retaining 40% ownership, while Reliance will acquire 51% and Bodhi Tree Systems will hold 9%. Viacom18's growth in popularity, particularly after securing the five-year rights to stream IPL cricket matches, has impacted Disney's Hotstar dominance in the Indian video streaming landscape. The merger reunites former Star India CEO Uday Shankar and James Murdoch, who formed Bodhi Tree with backing from Qatar Investment Authority.
- Reliance-backed Viacom18 agrees to buy 60% of Disney’s India unit, report says TechCrunch
- Reliance, Bodhi Tree set for 60% stake in Disney India merger-sources Reuters
- Disney's India Unit Takes Valuation Hit in Planned Sale The Wall Street Journal
- India's Reliance stands to benefit from failure of Sony-Zee deal Nikkei Asia
- India's Reliance Maintains Silence On Mega Merger Buzz With Disney's Local Unit Yahoo Finance
Want the full story? Read the original reporting
Read on TechCrunch