Disney Partners with Reliance to Secure 700 Million Indian Viewers

Establishment of Media Joint Venture with Indian Conglomerate Reliance
Joint Venture Valued at $8.5 Billion (11 Trillion KRW)
Exclusive Supply of 30,000 Disney Contents Across India

The world's largest entertainment company, The Walt Disney Company, is launching an attack on the Indian market by establishing a media joint venture with India's conglomerate Reliance Industries.

On the 28th (local time), Disney announced that it had signed a contract to establish a new joint venture by merging its Indian subsidiary 'Star India' with Reliance's 'Viacom 18' division.

The value of the joint venture is estimated to be $8.5 billion (approximately 11.35 trillion KRW). In addition, Reliance has decided to invest an additional $1.4 billion (approximately 1.87 trillion KRW) to grow the joint venture, and Disney has also expressed its intention to make additional investments after approval from local regulatory authorities.

If the deal is completed, Reliance will effectively have control. It is reported that the wife of Mukesh Ambani, the owner of Reliance and one of Asia's richest people, will take the position of chairman of the joint venture. Disney will own 36.84% of the shares.

Disney explained that through this joint venture, the media assets of both companies, including TV channels and streaming platforms, will be integrated, securing over 750 million viewers across India. Furthermore, the joint venture will have the exclusive rights to distribute about 30,000 Disney content assets in India.

Bob Iger, Disney's Chief Executive Officer (CEO), said, "India is the market with the largest number of consumers in the world," adding, "We expect this joint venture to contribute to the company's long-term value creation." He continued, "Reliance deeply understands the Indian market and consumers, and through this partnership, we will be able to offer consumers a broader range of digital services, entertainment, and sports content."

Mukesh Ambani, chairman of Reliance, said, "This agreement marks a groundbreaking contract heralding a new era in the Indian entertainment industry," adding, "By combining our extensive resources, creativity, and insights, we will provide the best content at affordable prices to viewers across India."

This content was produced with the assistance of AI translation services.