Mukesh Ambani who heads the Jio Network is now looking to expand his OTT network by acquiring OTT giant Disney stakes. The discussion has been happening for a long time and now the deal is said to be finalised. Reliance has reportedly bought 61% of shares while Disney will hold the rest 39% stake. Reliance would be investing $1.5 Billion which is equivalent to around 12,400 Crores in Indian rupees.
As per the experts, the deal is said to be a win-win situation for both stakeholders. Both Reliance Group as well as Disney will benefit massively from this deal. An official announcement is expected in a few days. Disney and Reliance have signed a binding pact to merge their media operations in India.
When finalized, this deal will be the biggest in Indian streaming and media history. It will create the largest media empire with more than 100 TV channels and two streaming platforms. Jio Cinema and Disney Hotsar, are two domestic giants in the digital streaming space with a library of massive content and original productions. After the acquisitions under Network 18 group, Ambani has been eying the OTT sphere as well and has been focussing on such massive deals for the past few years.
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