Disney, Reliance have signed binding media pact to merge operations in India, reports Bloomberg

The media unit of Reliance, controlled by Mukesh Ambani, and its affiliates are expected to own at least 61% of the merged entity, with Disney holding the rest, the report said.

Disney and Reliance logos are seen in this illustration taken December 15, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

California: Walt Disney and industrial conglomerate Reliance Industries have signed a binding pact to merge their media operations in India, Bloomberg News reported on Sunday, citing people familiar with the matter.

The media unit of Reliance, controlled by billionaire Mukesh Ambani, and its affiliates are expected to own at least 61% of the merged entity, with Disney holding the rest, the report said.

(Reporting by Baranjot Kaur in Bengaluru; Editing by Hugh Lawson)

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