Reliance's Viacom18 to Acquire Majority Stake in Disney's India Unit

Reliance-backed Viacom18 is set to acquire 60% of Disney's India unit, valued at $3.9 billion, creating a potential $10 billion media giant in the South Asian market. The deal, expected to close this month, will see Disney retaining 40% ownership, while Reliance will acquire 51% and Bodhi Tree Systems will hold 9%. Viacom18's growth in popularity, particularly after securing the five-year rights to stream IPL cricket matches, has impacted Disney's Hotstar dominance in the Indian video streaming landscape. The merger reunites former Star India CEO Uday Shankar and James Murdoch, who formed Bodhi Tree with backing from Qatar Investment Authority.