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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="6378232" type="General" weightage="20" keywordseo="Air-India-Express" source="Orion">Air India Express</keyword> has cancelled "scores of flights" due to a shortage of cabin crew members as a section of them are reporting sick to protest against alleged mismanagement at the Tata Group-owned airline, according to sources. Discontent has been brewing among a section of the cabin crew at the low-cost carrier for some time now, especially after the start of the process of merger of AIX Connect, formerly AirAsia India, with itself. The sources on Wednesday said several cabin crew members started reporting sick since Monday evening and as there are not enough cabin crew members, "scores of flights" have been cancelled at various airports, including Kochi, Calicut and Bangalore. Late last month, a union representing a section of the Air India Express cabin crew alleged that the airline is being mismanaged and there is a lack of equality in the treatment of the staff. Air India Express Employees Union (AIXEU), a registered union, which claims to represent around 300 cabin crew members, mostly seniors, had also alleged that mismanagement of the affairs has affected the morale of the employees. Many passengers took to social media on Wednesday complaining about the sudden cancellation of flights. In response to a passenger's post on X about flight cancellation, Air India Express apologised and said the flight was cancelled "due to operational reasons". "As part of our service recovery process, you can either opt to reschedule the flight within the next 7 days or request a full refund through our chat bot Tia...," the airline said in a post on X. The development at Air India Express comes a month after <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> full-service carrier Vistara witnessed pilot woes, forcing it to temporarily cut down capacity by 10 per cent or 25-30 flights daily. As part of consolidating its airline business, Tata Group is merging Air India Express and AIX Connect, as well as Vistara with Air India. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank">Aadhar Housing Finance IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a>

Air India Express cancels flights due to cabin crew shortage: Sources

Billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s Reliance Industries and <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="153" meta.entityid="Tata Group">Tata Group</keyword> have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list. TIME listed Reliance in the 'Titans' category (one of the five categories under which the companies were divided, other being Leaders, Disrupters, Innovators, and Pioneers). Tata was listed in 'Titan's' category while Serum under 'Pioneers'. "Reliance Industries was founded as a textile and polyester company 58 years ago by Dhirubhai Ambani. Today the sprawling conglomerate -- which has aligned its growth with Indian Prime Minister Narendra Modi's vision for a 'self-reliant' India -- is the country's most valuable company, with a market capitalisation of more than USD 200 billion," TIME said. Now led by Dhirubhai's son Mukesh, the Mumbai-based company has ventures in energy, retail, and telecommunications, among others, and has made its chairman Asia's richest man, it said. The publication went on to stated that in February, Reliance came out on top in a fiercely competitive race to dominate India's burgeoning streaming market by striking a USD 8.5 billion merger deal with Disney's India business. "The deal will bring together more than 100 television channels and give the combined group around a 31 per cent share of India's streaming market compared to rivals Netflix and Amazon Prime with 8 per cent each," according to analytics firm Comscore. Reliance has revolutionised several economic sectors in the world's most populous country by making world-class products and services available at affordable prices with multiple innovations. Under Mukesh Ambani, the firm's telecom arm Jio revolutionised India's digital landscape and drove digital inclusion on an unprecedented scale with the most affordable mobile data tariffs in the world. It set up the world's largest single location refining complex. Reliance Retail is ranked among the top 100 retailers globally and in FY24 it registered 1.06 billion footfalls across its 18,800+ stores (67 per cent of which are in small towns and villages). Reliance is investing USD 10 billion in building the most comprehensive ecosystem for new energy and new materials in India and has set an ambitious goal to reach net-zero carbon by 2035. TIME described Serum as the world's biggest vaccine maker, churning out billions of vaccines. The company makes 3.5 billion doses every year, including for measles, polio, and most recently, HPV. "Serum's CEO Adar Poonawalla says the company's success can largely be chalked up to its private ownership. Not being beholden to shareholders allows it to keep vaccine prices low (the R21 will cost USD 4 a shot)," the publication said. Tata Group, it said, was founded in 1868 and has a vast portfolio extending from steel, software, watches, subsea cables, and chemicals, to salt, grains, air-conditioners, fashion, and hotels. "But as rivals have aggressively courted new businesses, it struggled to keep up with stiff competition. In 2017, after over a century of family management, N Chandrasekaran took over as chairman despite having no personal ties to the family -- highly unusual when India's business landscape is ruled by family succession plans," TIME said. As chair, he has transformed the group by investing in tech manufacturing, AI, and semiconductor chips. In 2023, it became the first Indian company to assemble iPhones, and is building another plant, it said, adding that in September, Tata announced a partnership with Nvidia to develop an AI cloud in India. "And this year, it announced plans for the country's first major semiconductor manufacturing facility. The moves seem to be paying off: in February, Tata's combined market capitalisation reached a whopping USD 365 billion, more than the entire economy of India's neighbour and rival, Pakistan," it added. This is the fourth edition of annual TIME100 Most Influential Companies list, highlighting companies making an extraordinary impact around the world. To assemble the list, TIME solicited nominations across sectors, and polled its global network of contributors and correspondents, as well as outside experts. Then, TIME editors evaluated each on key factors, including impact, innovation, ambition, and success. The result is a diverse group of 100 businesses helping chart an essential path forward. SEE ALSO:<a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank">Lok Sabha Exit Poll 2024 – what are they, when will they be announced and all you need to know</a><a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank">Truecaller can now detect if the caller is using AI – How to use it to prevent AI call scams</a><a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank">India’s T20 World Cup team, matches and everything you need to know</a>

Reliance, Tata on TIME's list of world's most influential companies

<keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>’s acquisition of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> is the biggest ever in India, with the US-based retail giant spending <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/walmart-acquires-flipkart-for-16-bn-worlds-largest-ecommerce-deal/articleshow/64095145.cms">$16 billion</a>. But this buyout isn’t the first big takeover we’ve seen in the country. Here’s a list of some of the biggest mergers and acquisitions India has seen. Following are the top 10 acquisitions that happened in India. <ol><li>FLIPKART- WALMART: Walmart acquired 77% Flipkart for $16 billion, making it the largest acquisition involving an Indian company, in 2018.</li><li>TATA STEEL-CORUS: In 2007, <keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword> took over European steel major Corus for the price of $12.02 billion, making the Indian company, the world’s fifth-largest steel producer. </li><li>VODAFONE-HUTCHISON ESSAR: In 2007, the world’s largest telecom company (at the time) in terms of revenue, <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword>, made an entered the Indian telecom market by acquiring a 52% stake in Hutchison Essar Ltd. Vodafone purchased 52% stake in Hutchisson Essar for about $10 billion. </li><li>HINDALCO-NOVELIS: Hindalco Industries Ltd. is a subsidiary of the Aditya Birla Group and Novelis is a world leader in the production of flat-rolled aluminum products. The <keyword id="929276" type="ORGANIZATION" weightage="20" keywordseo="Hindalco-Company">Hindalco Company</keyword> acquired the Canadian company Novelis for $6 billion, making the combined entity the world’s largest producer in rolled-aluminum.</li><li>RANBAXY-DAIICHI SANKYO: In 2008, Daiichi Sankyo Co. Ltd., signed an agreement to acquire the entire shareholders of Ranbaxy Laboratories Ltd, India. Ranbaxy’s sale to Japan’s Daiichi was priced at $4.5 billion.</li><li>ONGC-IMPERIAL ENERGY: In early 2009, Oil and Natural Gas Corp. Ltd (ONGC) took control of Imperial Energy, a UK Based firm operating in Russia for the price of $1.9 billion. </li><li>MAHINDRA &amp; MAHINDRA-SCHONEWEISS: In 2007, Mahindra &amp; Mahindra acquired 90 percent of Schoneweiss, a leading company in the forging sector in Germany. This consolidated Mahindra’s position in the global market.</li><li>STERLITE-ASARCO: In the year 2009, Sterlite Industries, a part of the <keyword id="147780" type="ORGANIZATION" weightage="20" keywordseo="Vedanta-group">Vedanta Group</keyword>, signed an agreement to acquire the copper mining company Asarco for the price of $2.6 billion. </li><li>TATA MOTORS-JAGUAR LAND ROVER: Tata Motors’ acquisition of luxury car maker Jaguar Land Rover was for the price of $2.3 billion, in 2008.</li><li>SUZLON-REPOWER: Wind Energy premier <keyword id="46212" type="ORGANIZATION" weightage="20" keywordseo="Suzlon-Energy">Suzlon Energy</keyword> acquired RePower for $1.7 billion. Suzlon Energy Limited is a wind turbine supplier based in Pune, India and RePower systems SE (now Senvion SE) is a German wind turbine company founded in 2001, owned by Centerbridge Partners. </li></ol>

Here are the top 10 acquisitions to have happened in India

New Delhi, M&amp;A deal value in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> fell 27 per cent in 2023 to USD 136 billion but the deals market is expected to remain steady in the current year, Deloitte India said in a report on Monday. "Amidst significant global challenges posed by high-interest rates, macroeconomic uncertainty, regulatory scrutiny, and geopolitical risks, India's M&amp;A landscape stood resilient in 2023," 'India M&amp;A Trends 2024' report said. "Despite global economic and geopolitical challenges, India's deals market is expected to remain steady, reflecting strong confidence from businesses and investors amidst a global economic slowdown," it added. In 2024, M&amp;A (Merger and Acquisition) momentum is expected to remain steady with the manufacturing sector, driven by automotive, with deal growth expected in auto-components and <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword> (EVs). Also, the government's proactive initiatives to promote clean energy are expected to catalyse a significant rise in M&amp;A within the energy sector. M&amp;A in the financial services sector is anticipated to be driven by large-scale consolidations and responses to regulatory shifts. Private Equity (PE) is projected to remain consistent in 2024, while deal momentum is expected to revive post-2024, supported by flattening interest rates and recovering economic growth. <keyword id="20733110" type="General" weightage="20" keywordseo="sumeet-salwan" source="keywords">Sumeet Salwan</keyword>, <keyword id="19964686" type="General" weightage="20" keywordseo="partner" source="keywords">Partner</keyword>, Consulting, Deloitte India, said, "The global challenges posed by high interest rates, macroeconomic uncertainty, and geopolitical risks, that characterised 2023 are expected to continue into 2024 as well. While the global M&amp;A market remains soft, Indian companies continue to be steered by a strong domestic economy. They may increasingly see M&amp;A as a crucial strategy to help them expand, integrate supply chains, and reinforce market positions." According to the report, M&amp;A deal value in India reduced to USD 136 billion in 2023 from USD 186 billion in 2022. Financial services, technology, media, and telecom (<keyword id="20147197" type="General" weightage="20" keywordseo="tmt" source="keywords">TMT</keyword>) continue to be the top sectors driving M&amp;A. Financial services sector witnessed a 45 per cent decline in deal value and a 23 per cent increase in deal volume from 2022. TMT sector encountered a 33 per cent YoY (Year on Year) reduction in deal value, while deal volume fell 34 per cent. Overall cross-border deal value declined 11 per cent in 2023. However, inbound deals saw significant growth, with their share increasing to 41 per cent from 27 per cent in 2022, it said, adding that outbound M&amp;A deal value experienced a notable 49 per cent decline compared to 2022. The energy sector saw a sharp 63 per cent increase in deal value in 2023 as compared to 2022, driven by renewable energy and rising interest in clean energy from foreign investors. The construction and transport sector witnessed a 44 per cent decline in deal value compared to 2022. The sector also had the highest share in outbound deal value, contributing 29 per cent to the same. The medical and pharma sector witnessed a 17 per cent fall in deal value from 2022, driven largely by strategic buyers seeking to expand scale. The industrial and manufacturing sector witnessed a significant 33 per cent and 22 per cent rise in deal value and volume, respectively, in 2023 compared to 2022. "The rise in the manufacturing sector was driven by the automotive segment," the report said.

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

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Air India Express cancels flights due to cabin crew shortage: Sources

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Reliance, Tata on TIME's list of world's most influential companies

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Here are the top 10 acquisitions to have happened in India

BI India Bureau

M&A deal value in India drops 27% in 2023 says Deloitte report

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