Days before son Anant Ambani's wedding, Mukesh Ambani signs mega deal, a game-changer for this industry

Anant Ambani, the younger son of India's wealthiest man, Mukesh Ambani, is set to tie the knot with Radhika Merchant in July. Before the wedding, a pre-wedding ceremony is underway, with several prominent figures from India and abroad in attendance. Amidst the festivities, Ambani has struck a major deal. According to a report by Bloomberg, Reliance Industries and Walt Disney have signed a binding pact to merge their media operations. After the merger, Reliance could hold at least 61 per cent stake in the new company, with the remaining held by Disney, according to the report. An announcement regarding this deal could be made in the coming days.

Bob Iger, CEO of Disney, has also been invited to Anant Ambani and Radhika Merchant's pre-wedding ceremony. 

It is speculated that there might be changes in the stake split between the two parties depending on the valuation of Disney's local subsidiaries at the time of the final deal. 

Disney holds stakes in various Indian companies, including Tata Play Limited, a leading broadcast service provider. Reliance might also consider acquiring these stakes. Disney has been facing several challenges in India, while Reliance has been expanding its presence in the media and entertainment sector.

Reliance's media unit had earlier secured streaming rights for the IPL in 2022. Additionally, a multi-year pact was signed in April with Warner Bros. Discovery Inc.'s HBO shows, previously owned by Disney. 

Disney has been exploring options in India, including selling its business or forming joint ventures.