The merger between Reliance Industries’ media assets and Walt Disney’s India business is progressing steadily, with completion expected by the end of the third quarter of fiscal year 2025, as confirmed by a recent regulatory filing by the Reliance group, according to PTI.
Key regulatory clearances have already been secured. The Competition Commission of India (CCI) has approved the merger of Viacom18 and Star India, and the National Company Law Tribunal (NCLT) has sanctioned the scheme. As stated in Reliance Industries’ quarterly earnings report, “The companies are in the process of obtaining other requisite approvals for the completion of the transaction, with closure expected in Q3 FY25.”
The merger will combine media operations from Viacom18 and JioCinema under Digital18, followed by the demerger and transfer of the V18 Undertaking to Star India. Approved by the NCLT in late August, this transaction will create India’s largest media conglomerate, valued at over ₹70,000 crore (approximately $8.5 billion). The new entity will operate two streaming platforms and 120 television channels, giving it a formidable presence in the Indian media landscape.
Upon completion, Reliance Industries and its affiliates will hold a 63.16% stake, while Walt Disney will own 36.84% of the new entity. This merger brings together the strengths of both companies, setting the stage for a media giant that will dominate both traditional television and the growing streaming market.
With major regulatory approvals in place, the merger between Reliance and Disney is on track to redefine the Indian media industry by Q3 FY2025. The combined entity is poised to leverage its vast content library and platforms to tap into India’s fast-growing digital and TV audiences, marking a significant milestone in the evolution of the country’s entertainment ecosystem.