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Ambani’s Reliance and Disney merge India media assets to form $8.5B joint venture
Reliance, its media asset Viacom18 and Disney are merging their media businesses in India, creating the largest media conglomerate in the South Asian
“We have always respected Disney as the best media group globally and are very excited at forming this strategic joint venture that will help us pool our extensive resources, creative prowess, and market insights to deliver unparalleled content at affordable prices to audiences across the nation. Viacom18 also outbid Disney’s $3 billion for five-year streaming rights to India’s popular cricket tournament, the Indian Premier League, breaking many of Hotstar’s past viewing records in just one year. “India is the world’s most populous market, and we are excited for the opportunities that this joint venture will provide to create long-term value for the company,” Disney chief executive Bob Iger said in a statement.
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