Mukesh Ambani’s Reliance Industries is also reportedly planning to inject Rs 12451 crore in the mega media entity. After the merger, Netflix and Amazon Prime may find it more difficult to compete with Jio Cinema's potential low-cost plans.
Mukesh Ambani is the richest person in India and Asia with a massive net worth of Rs 937548 crore. He is the chairperson of Reliance Industries, the most valuable company in India with a market cap of Rs 1975000 crore. Mukesh Ambani is involved in a wide range of businesses through its subsidiaries and soon he will also become the owner of India’s largest media empire. Mukesh Ambani’s Reliance Industries has been involved with Walt Disney to acquire the controlling stake in the company. Now as per a latest report by the Economic Times, the two sides are in the final stage of talks for the mega stock-and-cash merger. The report also reveals that the deadline to conclude the bilateral negotiations is February 17.
The report suggests that Mukesh Ambani will own 60% stake in the combined media entity and the remaining 40% will stay with the Walt Disney Co. Mukesh Ambani’s Reliance Industries is also reportedly planning to inject Rs 12451 crore in the mega media entity. After the merger, Netflix and Amazon Prime may find it more difficult to compete with Jio Cinema's potential low-cost plans. Jio may also launch low-cost add-on plans with Jio recharge, aimed at both telecom and OTT users.
Jio Cinema, having previously acquired the IPL rights, found itself in direct competition with Disney Plus Hotstar. After hosting the IPL and FIFA World Cup, Hotstar experienced a noticeable decline in subscribers. However, Disney Hotstar managed to secure the rights for the Asia Cup and Cricket World Cup from Jio Cinema. With Mukesh Ambani's company merging with Disney Hotstar, it's crucial to recognize the significant losses incurred in the competitive landscape against Jio Cinema.