The head of Disney and Reliance Industries’ newly merged $8.5bn Indian entertainment titan plans to invest and “revitalise” television in the world’s most populous country even as western media organisations increasingly see it as a dying medium.

The newly formed powerhouse will operate over 100 TV channels, produce more than 30,000 hours of content annually, and boast a combined digital subscriber base of over 50 million

Reliance Industries and Walt Disney on Thursday completed the $8.5 billion merger of their Indian media assets, which have been split into three divisions, with each unit having its own CEO. The companies said the newly formed divisions are entertainment,

India’s entertainment landscape shifted Thursday as Reliance Industries and Disney completed their long-awaited media merger, creating an Indian powerhouse valued at $8.5 billion. The deal combines Disney’s Star India with Reliance’s Viacom18 and streaming platforms JioCinema and Hotstar.

Disney and Reliance Industries have completed the $8.5B deal to form a media and entertainment giant in India. This brings together Reliance’s JioCinema business with Disney’s Star India, which houses Disney+ Hotstar,

Reliance Industries Limited (RIL) has completed the merger of its media assets with the India business of Walt Disney for an $8.5 billion ( ₹70,352 crore) joint venture (JV) that will be controlled by the Mukesh Ambani-led conglomerate.

Reliance Industries Limited (RIL) and Disney (NYSE:DIS) have received final approvals from competition regulators based in Mumbai for their $8.5B Indian joint initiative, which will leverage over 100 TV channels and have access to over 50M subscribers on digital streaming platforms and a portfolio of sports rights,