Bizasia: Reliance & Disney "finalising details" for merger involving Star India operations

Story from Bizasia:

Reliance Industries and Walt Disney are reportedly finalising details of a non-binding term sheet, which will see the two entertainment giants merge their India media operations.

Economic Times reports that an official announcement could be made in January 2024, which will see the formation of a new unit of Reliance’s Viacom18 absorbing Disney’s Star India through a share swap deal.

The report further states that Reliance is likely to pay cash for a 51% stake in the proposed Viacom18 unit while Disney owns 49%.