Disney and Reliance in Talks About Merging Their India Media Operations – ET

Executives connected in the subject stated that Reliance Industries Ltd. (RIL) and Walt Disney Co. are finalising the specifics of a non-binding term sheet to proceed.

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According to them, Reliance is vying to hold a larger stake in the combined business—at least 51%—while Disney will own the remaining 49%.

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Since both companies are seen as being of comparable size, RIL is probably going to have to pay cash for the majority share.

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In addition, the two parties are discussing a business plan to provide $1–1.5 billion in cash as an urgent capital commitment.

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Ambani’s principal advisor, Manoj Modi, is leading the RIL negotiations with the group’s M&A group.

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The FY23 net profit of Viacom18, which is also owned by TV18 and Paramount, dropped 98% to Rs 11 crore.

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