Disney and Reliance to merge media companies in India

Leisure titan Walt Disney and Indian conglomerate Reliance will merge their Indian companies, the U.S. leisure large introduced Wednesday.

The businesses will likely be combining their respective Star India and Viacom18 models into the newly-created Star India three way partnership, valued at roughly $ 8.5 billion on a post-money foundation, excluding synergies.

Following the completion of the transaction, Reliance, led by Asia’s richest man Mukesh Ambani, will management the JV and inject $1.4 billion into its progress technique. The possession construction will comprise of a 16.38% curiosity for Reliance, 46.82% for Ambani’s Viacom18 and 36.84% for Disney.

Ambani’s spouse, Nita Ambani will chair the three way partnership, whereas Viacom18 board member Uday Shankar will function vice chairperson.

Disclosure: Entities tied to Reliance Industries Chairman Mukesh Ambani have a stake within the mother or father firm of CNBC TV-18, CNBC’s native India accomplice.

It is a breaking information story, please examine again later for extra.