The much-anticipated JioStar is now live, marking a major milestone in India’s media and entertainment landscape. On November 14, Reliance Industries Limited (RIL), Viacom18 Media, and The Walt Disney Company finalized a joint venture (JV) valued at `70,352 crore ($8.5 billion). RIL will control the said JV with a stake of 16.34 per cent, while its step-down unit Viacom18 holds a majority stake of 46.82 per cent and Disney the rest 36.84 per cent. This media powerhouse unites popular brands like Star, Colors, JioCinema, and Hotstar, operating over 100 TV channels, producing 30,000+ hours of content annually, and boasting a digital subscriber base of 50 million. RIL has also infused `11,500 crore ($1.4 billion) to accelerate growth, solidifying JioStar as one of India’s largest media entities.
The Competition Commission of India (CCI) approved the transaction on August 27, 2024, with certain voluntary modifications from the parties. In addition to the CCI, the deal has received approval from anti-trust authorities in the EU, China, Turkey, South Korea, and Ukraine. The JV holds a portfolio of sports rights across cricket, football and other sports. This one-of-a-kind Reliance-Disney joint venture combines exceptional content creation, curation expertise, and cutting-edge digital streaming capabilities with a digital-first approach, offering unmatched content options at affordable prices for Indian audiences and the global diaspora.
Key Leadership
Nita M. Ambani will be the Chairperson of the JV, with Uday Shankar as Vice Chairperson providing strategic guidance to the JV. Key operations will be driven by the three CEOs: Kevin Vaz (entertainment), Kiran Mani (digital), and Sanjog Gupta (sports). The dynamic trio have been entrusted to drive the Reliance and Disney-Star joint venture’s strategy and growth.
