The Disney-Reliance JV will now stream cricket Indian Premier League (IPL) on Disney’s platform Hotstar
The CCI in August approved the $8.5 Bn merger between Reliance Industries Limited and Disney’s Indian media assets
Disney-Reliance together will have 120 channels and two streaming apps and will reportedly have a user base of more than 750 Mn
After receiving nod from the Competition Commission of India (CCI) and the National Company Law Tribunal (NCLT) for the merger deal, Disney and Reliance have now integrated their live sports streaming on Hotstar.
The merged entity will now stream all live sports events, including cricket Indian Premier League (IPL) on Disney’s platform Hotstar, reported Reuters.
While Disney declined to comment on the development, Inc42’s queries to Reliance did not elicit any response till the time of publishing the story.
The CCI in August approved the $8.5 Bn merger between Reliance Industries Limited and Disney’s Indian media assets. The entity together will have 120 channels and two streaming apps and will reportedly have a user base of more than 750 Mn.
Once the process is completed, RIL will control the joint venture and will own 56% of the JV through its multiple entities. Disney will have a 37% stake in the joint venture, while Bodhi Tree will own the remaining 7%.
Reliance Foundation chairperson Nita Ambani will helm the JV, while Uday Shankar will be the vice-chairperson of the merged entity.
In February, RIL, Viacom 18 and The Walt Disney Company signed binding agreements to set up a JV that will combine the media operations of the entities.
(The story will be updated soon)
