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  1. $8.5 billion
    • According to 3 sources
    The Walt Disney Company announced on Wednesday a joint venture with India’s biggest conglomerate, Reliance Industries, in an $8.5 billion deal that will create a media powerhouse in the world’s most populous nation and end Disney’s decades-long solo effort to gain a foothold in the market.
    Disney and Reliance Industries Ltd. have reached an $8.5 billion agreement to merge Disney’s Hotstar with Viacom18 in a deal that gives Disney 36.84%, Reliance Industries 16.34%, and Viacom18 Media 46.82%. Reliance will also invest another $1.4 billion into “growth capital” for the new “joint venture.”
    Disney announced it would merge its India operations with the country’s largest conglomerate, billionaire Mukesh Ambani’s Reliance Industries, in a $8.5 billion deal that will create one of the world’s largest media ventures—and signals a small retreat from the India market by Disney.
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    India's top conglomerate Reliance Industries and Walt Disney on Wednesday announced the merger of their India TV and streaming media assets, creating an $8.5 billion entertainment juggernaut far ahead of rivals in the world's most populous nation.
    The Walt Disney Company and billionaire Mukesh Ambani’s Reliance Industries have merged their massive Indian TV and streaming businesses, ending months of speculation. As per the agreement, Reliance’s Viacom18 is merging with Disney’s Star India. The deal is estimated to be worth $8.5 billion on a ‘post-money basis,’ the companies said.
    Reliance will also invest another $1.4 billion into “growth capital” for the new “joint venture.” Disney may also invest but must get regulatory approval to do so. The new platform will be given exclusive rights to Disney content in India. Disney is likely hoping this deal will bring some stability to India.
    Reliance, which owns about 75% of Viacom18, plans to invest $1.4 billion into the joint venture for its growth strategy. For Disney, the deal is bittersweet.
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