If reports are to be believed, Star India will sell 51% of their company to Reliance. With this development, JioCinema and Disney+ Hotstar may soon merge operations.
JioCinema and Disney+ Hotstar may soon merge operations.
In August this year, the merger of Viacom18's two OTT platforms, JioCinema and Voot, neared completion. The process of completion is underway. While entertainment news lovers are yet to sink the development, a fresh report on Christmas Day suggests that Star India will sell 51% of their company to Reliance. With this development, JioCinema and Disney+ Hotstar may soon merge operations.
JioCinema, Disney+ Hotstar may soon merge operations
Reliance Industries and Walt Disney have purportedly entered into a non-binding agreement to combine their Indian media operations. The anticipated completion date for the deal is February, with the business tycoon Mukesh Ambani-led conglomerate targeting conclusion by the end of January, pending regulatory approvals, according to the report.
As per sources cited in The Economic Times, the merger structure entails Reliance holding a 51% stake through a mix of shares and cash, while Disney will retain the remaining 49%.
Well, only time will confirm whether the report is true or not.
The merger is poised to establish one of India's largest entertainment conglomerates, positioning itself in competition with several reputed OTT platforms. Reliance's media and entertainment unit, Viacom18, currently encompasses numerous TV channels and the JioCinema streaming app.
Folks in the entertainment industry might be aware that popular shows like Koffee with Karan are aired on Disney Plus Hotstar, while Bigg Boss is aired nowadays on JioCinema.
Bigg Boss 17, alternatively titled Bigg Boss: Dil, Dimaag aur Dum Ka Game, stands as the seventeenth installment of the Indian reality television series Bigg Boss. Debuting on October 15, 2023, on Colors TV and JioCinema, the show is hosted by superstar Salman Khan, marking his fourteenth stint as the host.
Koffee with Karan, on the other hand, is hosted by National Award-winning filmmaker Karan Johar.