Mukesh Ambani signs massive Rs 70352 crore deal, to invest Rs 11500 crore in...

The JV will be one of the leading TV and digital streaming platforms for entertainment and sports content in India.

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Indian billionaire Mukesh Ambani has been expanding his business empire in various sectors. He is the richest man in India and Asia with a real-time net worth of Rs 943330 crore, as per Forbes. He runs USD 110 billion (revenue) Reliance Industries, which has interests in petrochemicals, oil and gas, telecom, retail and financial services. His Reliance Industries, which has a market cap of Rs 19.68 lakh core, has now signed a massive deal with Walt Disney. The duo companies have agreed to merge their media operations -- Viacom18 and Star India -- in India. Moreover, Reliance will invest Rs 11,500 crore in the joint venture.

Nita Ambani will be the chairperson of the JV, with Uday Shankar as vice chairperson providing strategic guidance to the JV. The transaction values the JV at Rs 70,352 crore (~USD 8.5 billion) on a post-money basis, excluding synergies. Post completion of the above steps, the JV will be controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18 and 36.84% by Disney. 

The JV will be one of the leading TV and digital streaming platforms for entertainment and sports content in India. "The JV will also be granted exclusive rights to distribute Disney films and productions in India, with a license to more than 30,000 Disney content assets, providing a full suite of entertainment options for the Indian consumer," Reliance said in a statement.

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