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New Delhi: The merger of media assets of Reliance Industries and the India business of global media house the Walt Disney is expected to be complete by the end of the third quarter of this fiscal, according to a regulatory filing by billionaire Mukesh Ambani-led group. The fair trade regulator CCI has already approved the merger of Viacom 18 and <keyword id="19976122" type="General" weightage="20" keywordseo="Star-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Star India" meta.hostid="261" meta.entityid="Star India">Star India</keyword> and NCLT (National Company Law Tribunal) has sanctioned the scheme regarding it. "The companies are in the process of obtaining other requisite approvals for the completion of the transaction and transaction closer is expected in 3Q FY 25," informed Reliance Industries on Monday in its quarter earning statement. The merger of Reliance group-controlled media assets - TV18 Broadcast and E18 - with Network18 Media &amp; Investments has already been sanctioned by the NCLT and was made effective on October 3, it said. Earlier on September 27, the government approved the transfer of licenses relating to Non News &amp; Current Affairs TV channels held by media entities of Reliance Industries to Star India. "The Ministry of Information and Broadcasting, Government of India, vide its order dated September 27, has granted its approval for transfer of Licenses relating to Non News &amp; Current Affairs TV channels held by <keyword id="19976121" type="General" weightage="20" keywordseo="Viacom18" source="keywords" meta.keywordsubtype="org" meta.entityname="Viacom18" meta.hostid="261" meta.entityid="Viacom18">Viacom18</keyword> Media Private Limited in favour of Star India," it had said. Viacom18 is the holding company that owns the media and entertainment business of billionaire Mukesh Ambani-led Reliance Industries and Bodhi Tree Systems. Both sides are in the final stages of the merger, making some adjustments in the business as per the Competition Commission of India (CCI) directions. On August 30, the NCLT had approved the scheme of merger of Viacom18 Media and Digital 18 Media, holding media and entertainment assets of Reliance Industries with Star India. The scheme had proposed the transfer and vesting of Media Operations Undertaking from Viacom 18 and Jio Cinema into Digital18, which is a subsidiary of Viacom 18. This would be followed by "demerger, transfer and vesting of V18 Undertaking from Digital 18 into Star India". The merger of the media assets of Reliance Industries and The Walt Disney Co.'s India business will create the country's largest media empire worth over Rs 70,000 crore. Earlier, the CCI had said it has cleared the "proposed combination involving Reliance Industries Ltd, Viacom18 Media Pvt Ltd, Digital18 Media Ltd, Star India Pvt Ltd and Star Television Productions Ltd, subject to the compliance of voluntary modifications". Viacom18 is part of the RIL group, and Star India is wholly owned by The <keyword id="19986269" type="General" weightage="20" keywordseo="Walt-Disney-Company" source="keywords">Walt Disney Company</keyword>. Star Television Productions, a company incorporated in the British Virgin Islands, is owned indirectly by Walt Disney. The CCI, however, did not disclose voluntary modifications in the original deal made by the two parties. As per the deal, Mukesh Ambani-led RIL and its affiliates will hold 63.16 per cent of the combined entity that will house two streaming services and 120 television channels. Walt Disney will hold the remaining 36.84 per cent stake in the combined entity, which will also be India's largest media house. Reliance Industries has also agreed to invest close to Rs 11,500 crore into the joint venture to give it the muscle to fight rivals like Japan's Sony and Netflix. Nita Ambani, wife of billionaire and RIL Chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, will head the joint venture, while Uday Shankar will be the vice-chairperson.

Reliance expects to complete merger with Disney's India business in Q3

Top 10 richest people in Asia in 2024

<ul><li><keyword id="111343" type="General" weightage="20" keywordseo="Gautam-Adani" source="Orion">Gautam Adani</keyword> is ranked 4th in the world with a total net worth of $125 billion.</li><li>Adani is followed by Mukesh Ambani at number 10 with a net worth of $83.6 billion.</li><li>The next rank from India is number 45 for <keyword id="6419840" type="General" weightage="20" keywordseo="Azim-Premji" source="Orion">Azim Premji</keyword> of Wipro with a net worth of $ 24.6 billion.</li></ul> The double As - Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one. There was a time when <keyword id="232460" type="General" weightage="20" keywordseo="Tata-and-Birla" source="Orion">Tata and Birla</keyword> were synonyms for India's rich. Every region had its own wealthy like the Shrirams, Thapars, Nandas, and Modis in the north or the Bangurs in the east or the Mafatlals, Walchands, Kirloskars, Khataus, Sarabhais and Lalbhais in the west and the M.A. Chidambaram group in the south. Over time, many groups have floundered and fallen on bad times. There are many defining moments in this journey which saw a debilitating impact on family industrial groups. The year 1964 was a turning point because this was when the Monopolies and Restrictive Trade Practices Commission was established. By that year, the MRTP Commission had finished collecting and sifting information on Indian big business and hence reliable data was available. The next interesting inflection point came in 1991, when the P.V. Narasimha Rao administration introduced the New Economic Policy. This is where it all changed - India's most radical policy document in the form of the New Industrial Policy - the Licence Permit Raj was scrapped on 24 July 1991. Democratic socialism had been consigned to the rubbish heap of history - Licence Raj, which was in place for four decades, came to an end with the new industrial policy announced by Finance Minister Manmohan Singh and Prime Minister P.V. Narsimha Rao, who also held the portfolio of Industries Minister. The New Industrial Policy proposed getting rid of Monopolies and Restrictive Trade Practices and abolishing industrial licensing for all but 18 industries. Foreign equity holdings were proposed to be raised by 51 per cent in a project. Indian industry was free of controls and bureaucracy like never before. Over the last 30 years, India Inc had been turned on its head. As per the Bloomberg Billionaires Index now, Gautam Adani is ranked 4th in the world with a total net worth of $125 billion. Adani is followed by Mukesh Ambani at number 10 with a net worth of $83.6 billion. However, after Adani and Ambani the gap widens by a large extent and is then taken up by the software czars. The next rank from India is number 45 for Azim Premji of Wipro with a net worth of $ 24.6 billion. Shiv Nadar of HCL Technologies is at number 51 on the index with a net worth of $22.8 billion. The representation from India is then only at number 101 with Dilip Shanghvi with a net worth of $14.9 billion followed by Cyrus Poonawalla at 102 with $14.8 billion. Lakhsmi Mittal is at 103 with a net worth of $14.7 billion. Uday Kotak is ranked 106 with a net worth of $13.7 billion. Savitri Jindal is ranked at 119 on the Bloomberg Billionaires Index with a net worth of $12.9 billion. Sunil Mittal is ranked at 134 with a net worth of $12.2 billion. Kumar Birla is at 159 with a net worth of $10.8 billion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/over-2-49-crore-unaccounted-cash-seized-in-hyderabad/articleshow/94750636.cms">Over ₹2.49 crore unaccounted cash seized in Hyderabad</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms">Telecom sector to ring in stability in Q2 – Jio and Airtel expected to grow stronger, Vi weaker</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/this-giant-swing-in-manali-runs-on-ai/articleshow/94741834.cms">This giant swing in Manali runs on AI</a>

Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one

Unless in a coma for the past several months, one would have come across the news of Anant Ambani, youngest son of Reliance Industries chairman Mukesh Ambani, getting married to <keyword id="20178843" type="General" weightage="20" keywordseo="Radhika-Merchant" source="keywords">Radhika Merchant</keyword>, daughter of Viren A. Merchant, on July 12 at Mumbai's Jio World Convention Center. The lavish wedding and pre-wedding events, following their engagement last year, drew nationwide attention for its grandeur and the presence of hundreds of celebrities and prominent personalities. Now, reports of the <keyword id="22409157" type="General" weightage="20" keywordseo="luxurious-gifts" source="keywords">luxurious gifts</keyword> given to Anant's close friends are also making waves. As per media reports, Anant Ambani surprised his groomsmen by giving each of them a watch worth ₹2 crore. These expensive <keyword id="22409155" type="General" weightage="20" keywordseo="Audemars-Piguet-watches" source="keywords">Audemars Piguet watches</keyword> are creating a buzz online. Guests are posting videos of the lavish gift hampers that include these elegant watches, showing how grand Anant's gesture was. <div type="image" title="Watches" msid="111733513" hostid="261" caption="&amp;lt;p&amp;gt;Screengrab from a video floating on the internet&amp;lt;/p&amp;gt;"></div>A Reddit post revealed that Anant had ordered a custom set of 25 limited edition Audemars Piguet Royal Oak Perpetual Calendar Luminary Edition watches. Famous recipients included Shah Rukh Khan, Ranveer Singh, Shikhar Pahariya, Veer Pahariya, and Meezaan Jafri, as deduced from social media updates and celebrity interactions. The watch Anant Ambani gifted has a 41 mm pink gold case and is 9.5 mm thick, with a see-through back and a secure crown. It has a pink gold dial with a special pattern, blue counters, pink gold hour markers, and glowing hands. The watch also features a pink gold inner bezel and a self-winding movement that shows the week, day, date, moon phase, month, leap year, and time. While Anant Ambani gifted Audemars Piguet watches to his groomsmen, Reliance employees also received Haldiram Bhujia as a wedding gift. <div type="twitter" handle="the_codewala" handlename="the_codewala" favoritecount="0" retweetcount="0" id="1810972241594863814"></div>Several Reliance employees shared photos and videos on social media of the gift box they received before Anant Ambani and Radhika Merchant's wedding on July 12. The red gift box has gold lettering that says: “With the divine grace of our gods and goddesses, we celebrate the wedding of Anant and Radhika. Best wishes, Nita and Mukesh Ambani.” (With inputs from TOI and Hindustan Times) SEE ALSO: <a href="https://www.businessinsider.in/india/news/pm-narendra-modi-attends-anant-ambani-and-radhika-merchants-star-studded-wedding-event/articleshow/111719695.cms" data-type="tilCustomLink" target="_blank">PM Narendra Modi attends Anant Ambani and Radhika Merchant's star-studded wedding event</a> <a href="https://www.businessinsider.in/politics/india/article/rahul-gandhi-takes-dig-at-politicians-attending-ambani-wedding-bash-while-commoners-are-dying-of-hunger/articleshow/111727513.cms" data-type="tilCustomLink" target="_blank">Rahul Gandhi takes dig at politicians attending Ambani wedding bash while commoners are “dying of hunger”</a>

Ambani wedding giveaways: ₹2 Crore Watches for SRK, Ranveer and Groomsmen, Bhujia for Reliance employees

<ul><li>This is the second instance of <keyword id="10924" type="General" weightage="100" keywordseo="ambani" source="Orion">Ambani</keyword> family getting threats on the hospital landline number.</li><li><keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> currently has a Z-Plus security cover, provided by the Central government.</li><li>In 2013, a letter sent in the name of terror outfit Indian <keyword id="1336187" type="General" weightage="50" keywordseo="mujahidin" source="Orion">Mujahidin</keyword> was delivered to Ambani's Maker Chambers office. </li></ul> Calls received by a hospital run by the Reliance Foundation threatening to kill Mukesh Ambani and his family members were the latest of the threats received by the billionaire industrialist. Mumbai Police on Thursday arrested Rakesh Kumar Mishra (30) from Darbhanga in Bihar for allegedly making calls to Sir H N Reliance Foundation Hospital here in the last two days, threatening to blow up the hospital and kill Ambani, his wife Nita and sons Akash and Anant. The caller had also threatened to blow up Antilia, the famous south Mumbai residence of the Ambani family on Altamount Road in South Mumbai . According of the city police, this is the second instance of Ambani family getting threats on the hospital landline number. On August 15 this year, the hospital had received at least nine calls threatening the Reliance Industries chairman and his family members, said an official. <keyword id="15181308" type="General" weightage="50" keywordseo="bishnu-vidu-bhoumik" source="Orion">Bishnu Vidu Bhoumik</keyword> (56) was arrested in connection with the calls. In November 2021, Mumbai Police increased the security outside Antilia following a tip given by a taxi driver about a possible threat, but investigation found there was no such threat. But an incident involving threat to the Ambani family earlier that year made national headlines and shook the state government. On February 25, 2021, an explosive-laden SUV was found parked on Carmichael Road in South Mumbai, near the Ambani residence. Police recovered a printed threat note inside along with gelatin sticks. The note this was only a "trailer" and there would be assembled explosives next time instead of just loose sticks. <keyword id="10875173" type="General" weightage="50" keywordseo="mansukh-hiran" source="Orion">Mansukh Hiran</keyword>, a Thane-based businessman, told police the SUV had been stolen from his possession. But the matter took a grim turn when Hiran was found dead in a creek in Thane a few days later, and an Assistant Inspector of Mumbai crime branch, <keyword id="1006310" type="General" weightage="50" keywordseo="sachin-waze" source="Orion">Sachin Waze</keyword> was arrested for alleged involvement in parking the SUV near Antilia and also for Hiran's murder. The affair also led to Mumbai Police Commissioner <keyword id="8848108" type="General" weightage="50" keywordseo="param-bir" source="Orion">Param Bir</keyword> Singh being shunted out. An angry Singh then accused then home minister Anil Deshmukh of asking police to collect money from bars in Mumbai; Deshmukh subsequently resigned and the CBI registered a corruption case against him. Mukesh Ambani currently has a Z-Plus security cover, provided by the Central government. The Central Industrial Security Force provides security to his residence. In 2013, a letter sent in the name of terror outfit Indian Mujahidin was delivered to Ambani's Maker Chambers office in Nariman Point area. It threatened him for supporting then Gujarat Chief Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>. Mukesh Ambani's younger brother and industrialist Anil Ambani was in news for reason related to security in 2009 when pebbles were discovered in the fuel tank of his chopper. It was suspected that it was a sabotage attempt. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/world-bank-downgrades-indias-economic-growth-forecast-to-6-5-for-fy23/articleshow/94684137.cms">World Bank downgrades India's economic growth forecast to 6.5% for FY23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtel-rolls-out-5g-plus-in-8-cities-promises-20-30x-higher-speeds/articleshow/94679793.cms">Airtel rolls out 5G Plus in 8 cities, promises 20-30x higher speeds</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sensex-gains-156-points-led-by-metal-it-and-capital-goods-amid-foreign-capital-inflows/articleshow/94684483.cms">Sensex gains 156 points led by metal, IT and capital goods amid foreign capital inflows</a>

Ambani family has been target of threats over the years

<keyword id="6420486" type="General" weightage="100" keywordseo="ndtv" source="Orion">NDTV</keyword>'s share price rose 5 per cent, hitting the upper circuit in opening trade on Wednesday, a day after the <keyword id="76451" type="General" weightage="80" keywordseo="adani" source="Orion">Adani</keyword> group launched a hostile bid to take over the media house. The stock climbed 5 per cent to Rs 384.50 -- its upper circuit limit as well as 52-week high -- on the <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> after beginning the trade on a positive note. The company's market capitalisation climbed Rs 117.99 crore to Rs 2,478.92 crore on the BSE. On the NSE, it jumped 4.99 per cent to Rs 388.20 -- its upper circuit limit as also the one-year peak. After declining in opening trade, the 30-share benchmark <keyword id="6484188" type="General" weightage="50" keywordseo="sensex" source="Orion">Sensex</keyword> was trading 87 points higher at 59,118.24 points in late morning trade. In a move that has significant ramifications for the media landscape, billionaire <keyword id="111343" type="General" weightage="50" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> on Tuesday launched a hostile bid to take over NDTV, first with an indirect acquisition of 29.18 per cent stake in the broadcaster followed by an offer to buy out a further 26 per cent controlling stake. On Tuesday, the owners of <keyword id="201523" type="General" weightage="50" keywordseo="new-delhi-television-ltd" source="Orion">New Delhi Television Ltd</keyword> (NDTV), a popular news channel, said they were completely unaware of the takeover until Tuesday, and that it was done without their consent or any discussion. Three Adani group firms - Vishvapradhan Commercial Pvt Ltd (VCPL) along with AMG Media Networks and Adani Enterprises Ltd - have come out with a public announcement for the offer under the Sebi norms. The open offer to acquire an additional 26 per cent or 1.67 crore equity shares in NDTV is worth nearly Rs 493 crore. The offer price is Rs 294 per share, 19.71 per cent lower than the closing price on Tuesday. NDTV's share price, which has risen more than 300 per cent so far this year, closed at Rs 366.20 apiece on BSE on Tuesday. If the open offer is successful, the Adani group will have more than 55 per cent stake in NDTV. As the Adani group looks to boost media investments as part of an ambitious expansion plan, a group firm first acquired a company that in the past was linked to rival billionaire <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>. The particular company had loaned Rs 250 crore to NDTV in 2008-09 and the Adani group firm now exercised the option to convert that debt into 29.18 per cent stake in the news channel company. Subsequently, it has launched an open offer for another 26 per cent stake, the group said in a statement on Tuesday. "AMVL's wholly-owned subsidiary VCPL holds warrants of RRPR Holding Pvt Ltd (RRPR) entitling it to convert them into a 99.9 per cent stake in RRPR. VCPL has exercised warrants to acquire 99.5 per cent in RRPR," it said. Such acquisition will result in VCPL acquiring control of RRPR. "RRPR is a promoter group company of NDTV and holds a 29.18 per cent stake in NDTV," the statement said. On Tuesday, NDTV said the exercise of the right by VCPL was executed without any input of the company or its founders. In an internal communication to its employees on Tuesday, NDTV said, "the developments of today are entirely unexpected for NDTV, and for Radhika and Prannoy". "We are in the process of evaluating the next steps, many of which involve regulatory and legal processes," it added. The bid for NDTV will be the Adani group's most high-profile bet in the media sector where Ambani already has a sizeable presence through Network18, which runs a bouquet of channels, including news channel CNN-News18 and business channel CNBC-TV18. Last year, Adani Media Ventures Ltd (AMVL), the media arm under the group's flagship Adani Enterprises Ltd, had acquired the digital business news platform Quintillion Business Media Pvt Ltd (QBM). NDTV had a revenue of Rs 421 crore with an EBITDA of Rs 123 crore and a net profit of Rs 85 crore in FY22, with negligible debt. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/top-five-gmail-features-to-get-more-productive/slidelist/93746021.cms">Top five Gmail features to get more productive</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/this-financial-metric-explains-how-the-indian-economy-will-take-some-time-before-it-is-back-on-track/articleshow/93746079.cms">This financial metric explains how the Indian economy will take some time before it is back on track</a>

NDTV stock hits upper circuit on Adani group takeover bid

<keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> - India's largest corporate by revenues, profits and market value - topped 2021 Wizikey News Score ranking as India's most visible corporate in the media. The recognition comes on the back of Exchange4Media Group's recognition recently to Reliance as one of India's Brands with Best In-house Communications Professionals 2021. Role of a vibrant and savvy Corporate Communications team is extremely important in ensuring media visibility for any company. Wizikey's News Score is world's first standardised metric to measure news visibility for brands and individuals using Artificial Intelligence, Big Data, Machine Learning and media intelligence. The News Score takes into account various key criteria like volume of news, headlines presence, the reach of publications, readership and the like. The score ranges from 0 to 100, and is based on monitoring of over 5000 publications. It represents the media presence of a brand in publications that matter. For its No 1 position Reliance has a News Score of 84.9 for 2021, followed by State Bank of India, Bharti Airtel, Infosys, Tata Motors. Only a few global companies like Google and Facebook have a score above 90. Reliance's News Score excludes standalone headline mentions of 'Jio'. The inclusion should have meaningfully enhanced the score. Reliance made quite a few key announcements this year across its businesses, as well as philanthropic initiatives, which played a key role in its media visibility. Reliance was at the forefront of India's fight against Covid during the second wave in 2021. Most importantly, it transformed its manufacturing units to emerge India's single largest medical oxygen producer equivalent of 11 per cent of India's total production. Reliance supplied over 1000 MT per day liquid oxygen to support over one lakh hospitalized patients free of cost. Reliance also carried out the largest vaccine drive among India Inc to administer over 2.5 million vaccine doses to its employees, their families, as well as members of society. Reliance announced its road map to lead India's transition to Green Energy, including four Giga Factories at Jamnagar with over $10 billion of investment commitments Reliance announced five key collaborations - NexWafe, REC, Ambri, Sterling &amp; Wilson Solar and Stiesdal - for critical next generation technologies and implementation capabilities to drive its Green Energy foray. Reliance commissioned two gas fields in KG basin and successfully conducted auctions to sell its gas to domestic consumers. Reliance is now on its way to contribute 15 per cent of India's total natural gas requirement. Reliance Jio augmented its spectrum by 55 per cent in the auctions held in March 2021 and emerged the largest holder of sub-GHz and 2300 MHz bands. Reliance launched the most affordable smartphone 'Jio Phone Next' in collaboration with Google at an entry level cost of Rs 1,999. The phone runs on optimized version of Google's Android OS called 'Pragati OS'. In line with its vision to add technology-led solutions to serve customers better, Reliance group also made a few acquisitions during the year. They included JustDial, SkyTran, and Urban Ladder. Jio-bp launched their first fuel retailing outlet to start offering additivated fuels and a differentiated value proposition. Reliance has been a leading newsmaker among Indian corporates in the past as well. SEE ALSO <a href="https://www.businessinsider.in/business/news/snapdeal-ipo-paper-reveals-that-it-is-going-offline/articleshow/88408081.cms" data-type="tilCustomLink">Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion</a> <a href="https://www.businessinsider.in/stock-market/news/mapmyindia-ipo-makes-a-positive-stock-market-debut/articleshow/88403594.cms" data-type="tilCustomLink">MapmyIndia debuts below expectation but IPO investors still make a sweet 53% return on listing</a> <a href="https://www.businessinsider.in/business/startups/news/zepto-raised-100-million-at-570-valuation-to-deliver-product-in-10-minutes/articleshow/88394937.cms" data-type="tilCustomLink">Two teenage Stanford dropouts have made their startup worth half a billion in 7 months</a>

Reliance Industries ranked as India's most visible corporate in media

New Delhi, Walt <keyword id="19899232" type="General" weightage="20" keywordseo="disney" source="keywords">Disney</keyword> CEO <keyword id="20023956" type="General" weightage="20" keywordseo="bob-iger" source="keywords">Bob Iger</keyword> has said a joint venture with <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> Industries after merging its <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> business would benefit the company in terms of profit and also "derisk" its business in the Indian market. The merger deal will create a big entity and help it to stay in the market at a "significant level", said Iger at a Morgan Stanley investor conference earlier this week. "We had an opportunity to align with Reliance, which is obviously the company that has done very well there and one that we respect. And in doing so, end up owning part of a bigger media company. And we believe that, that not only should benefit us in terms of the bottom-line, but derisk us as well there," he said. Last month, Walt Disney Co. and Reliance Industries announced signing of binding pacts to merge their media operations in India. Under the deal, Reliance and its affiliates will hold 63.16 per cent and Disney will have 36.84 per cent in the JV, which will create India's leading media company that will house two streaming services and around 120 television channels. "We wanted to stay in India. We made a big investment in India when we purchased the assets of 21st Century Fox. We are one of the biggest media companies in India. But even though it is the most populous country in the world, we felt we want to be there because of that, we also know that there are challenges in that market," he said. Iger said, the merger will create a big entity and help it to stay in the market at a "significant level". "So, it's kind of the best of both worlds. We stay in the market at a significant level. We have a very good partner in Reliance, and we get to have a chance of growing a business and lowering the risk of doing so," he added. The transaction values the joint venture at Rs 70,352 crore (USD 8.5 billion) on a post-money basis, excluding synergies. Billionaire Mukesh Ambani-led Reliance has also agreed to invest at closing Rs 11,500 crore into the joint venture to give it the muscle to fight rivals such as Japan's Sony, and Netflix. Its OTT platform Disney + Hotstar has seen its paid subscriber base decline from around 55 million to 40 million in the first quarter of FY24 because of Reliance's <keyword id="19985346" type="General" weightage="20" keywordseo="jio-cinema" source="keywords">Jio Cinema</keyword> winning exclusive rights for live sports. The combined entity will have the largest OTT subscriber base. Disney + Hotstar was launched in India in 2020, post the acquisition of the entertainment assets of 21st Century Fox at a valuation of USD 71.3 billion, thereby taking over the operations of Star India and Hotstar. It housed entertainment and cinema channels such as StarPlus and StarGold as well as sports channels like Star Sports. While Disney + Hotstar rapidly increased its subscriber base initially with the streaming rights of cricket matches (IPL, World Cup), it lost the bid for the digital streaming rights in 2023-27 cycle, which was won by Reliance-backed Viacom18 for USD 720 billion, 12.92 per cent higher than what Star India had paid on an average per match value. Media ventures of Reliance are currently housed in Network 18, which owns TV18 news channels as well as a plethora of entertainment (under the 'Colors' brand) and sports channels. NW18 also has stakes in moneycontrol.com, bookmyshow and publishes magazines. NW18 owns news channels CNBC/CNNNews. Reliance separately owns a movie production arm - JioStudios, and majority stakes in two listed cable distribution companies, Den and <keyword id="20777796" type="General" weightage="20" keywordseo="hathway" source="keywords">Hathway</keyword>. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-february-2024/slidelist/108323754.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-february-2024/slidelist/108323754.cms" target="_blank">Top selling cars in India in February 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-and-xiaomi-14-ultra-with-snapdragon-8-gen-3-launched-in-india/articleshow/108304169.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-and-xiaomi-14-ultra-with-snapdragon-8-gen-3-launched-in-india/articleshow/108304169.cms" target="_blank">Xiaomi 14 and Xiaomi 14 Ultra with Snapdragon 8 Gen 3 launched in India</a><a href="https://www.businessinsider.in/business/auto/news/retail-auto-sales-grow-by-13-in-february-but-elevated-inventory-levels-a-concern/articleshow/108289901.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/retail-auto-sales-grow-by-13-in-february-but-elevated-inventory-levels-a-concern/articleshow/108289901.cms" target="_blank">Retail auto sales grow by 13% in February, but elevated inventory levels a concern</a>

Merger with Reliance would boost company's profits and reduce risk in India: Disney CEO Bob Iger

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> pacer <keyword id="1807915" type="General" weightage="50" keywordseo="mohammed-siraj" source="Orion">Mohammed Siraj</keyword> had reported a "corrupt approach" to BCCI's Anti Corruption Unit (<keyword id="159581" type="General" weightage="80" keywordseo="acu" source="Orion">ACU</keyword>) from an unknown person, who wanted "inside news" about his team before Australia arrived in the country for a full-fledged tour in February this year. The India pacer, who is playing for Royal Challengers Bangalore in the ongoing IPL, promptly reported the matter to BCCI's ACU unit. It is understood that the gambler had lost a lot of money during the India games and messaged <keyword id="261464" type="General" weightage="100" keywordseo="siraj" source="Orion">Siraj</keyword> out of sheer frustration. India had played white-ball home series against New Zealand and Sri Lanka in January-February before Australia arrived. India won the T20 series against Sri Lanka 2-1 before blanking them 3-0 in the ODI series. Against New Zealand, India won the ODI series 3-0 before triumphing in the T20 series with a 2-1 margin, with the Black Caps winning the lone game of the tour in Ranchi. "It wasn't a bookie who approached Siraj. He is a driver from Hyderabad who is addicted to betting on India matches. He had approached Siraj via WhatsApp after losing a lot of money on India games," a senior BCCI source privy to the developments told PTI on condition of anonymity. "Siraj reported the approach immediately. The law enforcement (Andhra Police) authorities had nabbed the person," the source added. The BCCI had beefed up its ACU network ever since the spot-fixing scandal, involving S Sreesanth, Ankeet Chavan, Ajit Chandila and then Chennai Super Kings (CSK) team principal Gurunath Meiyappan, was unearthed in 2013. Now, each IPL team has a dedicated ACU official who stays in the same hotel and is there at the ground monitoring all the movements. Also, there is a mandatory ACU workshop for players on the dos and don'ts, and if any player fails to report a corrupt approach, there are sanctions in place. Bangladesh skipper Shakib Al Hasan was suspended in 2021 for not reporting a corrupt approach during his IPL stint in the previous season. RCB are currently placed eighth with four points after two wins and three defeats. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/audi-india-reports-over-two-fold-jump-in-sales-in-january-march-quarter/articleshow/99607457.cms">Audi India reports over two-fold jump in sales in January-March quarter</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/10-little-known-facts-about-mukesh-ambani-the-worlds-12th-richest-man/slidelist/99607111.cms">10 little known facts about Mukesh Ambani - The world’s 12th richest man</a>

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Reliance expects to complete merger with Disney's India business in Q3

PTI

Top 10 richest people in Asia in 2024

BI India Bureau

Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one

IANS

Ambani wedding giveaways: ₹2 Crore Watches for SRK, Ranveer and Groomsmen, Bhujia for Reliance employees

Ayush Mehrotra

Ambani family has been target of threats over the years

PTI

NDTV stock hits upper circuit on Adani group takeover bid

PTI

Reliance Industries ranked as India's most visible corporate in media

IANS

Merger with Reliance would boost company's profits and reduce risk in India: Disney CEO Bob Iger

PTI

Siraj reported corrupt approach to BCCI ACU before Australia tour: BCCI source

PTI

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