Mukesh Ambani’s Reliance Jio is set to acquire more than 50% of the stake in Disney Star. As per reports, Jio will acquire 54% of the shares in Disney Star, making it the biggest stakeholder in the company.
According to the sources, this move will likely merge the digital platforms Jio Cinema and Disney+ Hotstar. Reliance and Walt Disney Co. signed a non-binding agreement in December last year, paving the path for this huge merger between the two companies.
Merging Jio Cinema and Hostar into one entity makes it a huge OTT platform in India, dominating the likes of international biggies Netflix and Prime Video.
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