Disney's Back in India – VideoAge International

Last month, VideoAge reported that The Walt Disney Company had “reached a preliminary agreement to sell 60 percent of its shares of its India’s media unit to Viacom 18 for $1.5 billion.”

Yesterday, Disney announced the formation of a strategic joint venture that will combine its Star India business with Viacom 18. The venture is valued at $8.5 billion. When the deal closes in late 2024 or early 2025, Viacom 18 will own 47 percent, Disney 37 percent, and Reliance Industries the remaining 16 percent of the new unit.

Viacom 18 is a partnership between Reliance Industries (India’s largest conglomerate), Paramount Global, and Bodhi Tree System (co-owned by FOX’s James Murdoch).

Bob Iger, CEO of The Walt Disney Company, said about the deal, “India is the world’s most populous market, and we are excited for the opportunities that this joint venture will provide to create long-term value for the company. Reliance has a deep understanding of the Indian market and consumer, and together we will create one of the country’s leading media companies, allowing us to better serve consumers with a broad portfolio of digital services and entertainment and sports content.”

The merged entity will reach 85 percent of the country’s on-demand streaming service audience and about half of the TV viewers.

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