The Walt Disney Company plans to merge Star India with Reliance Industries by the first half of 2025. If it doesn’t happen by February 28, 2026, either party can call off the deal.
Star India, owned by Disney, and Reliance agreed to form a joint venture in February 2024, combining Viacom18’s and Star India’s businesses like TV networks, streaming services, and content production.
Reliance will have a 56% stake, Disney 37%, and a third-party investment firm, Bodhi Tree Systems, 7%. Reliance and Disney aim to create India’s biggest media company worth Rs 70,352 crore.
Disney reported a $2 billion charge in goodwill impairments linked to the merger with Viacom18. This is because Star India’s value was less than previously estimated.
In simple terms, Disney lost $2 billion.
Disney’s streaming service, Disney+ Hotstar, lost subscribers and revenue in India but gained globally. Revenue from Star India’s sports business fell due to changes in cricket rights.
Disney won TV rights for the Indian Premier League for Rs 23,575 crore, while Viacom18 (which owns the JioCinema app) got digital rights for Rs 23,758 crore.
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