All articles tagged with #reliance
Originally Published 16 days ago — by Toronto Star
Canada's health minister states that the country can no longer rely on U.S. health institutions, indicating a shift in health policy or concerns about cross-border health cooperation.
Originally Published 1 year ago — by Hollywood Reporter
Disney, Reliance Industries, and Viacom18 have finalized a merger to form a major joint venture in India's media and entertainment sector, valued at $8.5 billion. Reliance has invested $1.4 billion into the venture, which combines Star India, Viacom18's media assets, and JioCinema. The new entity, controlled by Reliance, will be one of India's largest media companies, offering extensive TV and digital content. The deal has received regulatory approvals from multiple countries, including India and the EU.
Originally Published 1 year ago — by TechCrunch
Reliance and Disney have finalized an $8.5 billion merger of their Indian media assets, forming a joint venture that dominates 85% of India's streaming market and half of its TV viewership. Reliance will control the venture, holding 63.16% of shares, while Disney retains the rest. The merger combines platforms like JioCinema and Hotstar, and includes valuable media rights such as the Indian Premier League. The venture aims to offer diverse content at affordable prices, with Nita Ambani as chair and Uday Shankar as vice chair.
Originally Published 1 year ago — by Deadline
Disney and Reliance Industries have finalized an $8.5 billion deal to merge their media assets in India, creating a major entertainment entity. The joint venture combines Reliance's JioCinema with Disney's Star India, including Disney+ Hotstar, and is expected to generate significant revenue and content output. Reliance will hold a majority stake, with Nita M. Ambani as Chair and Uday Shankar as Vice Chair. The merger aims to enhance content offerings and expand market presence in India's media landscape.
Originally Published 1 year ago — by TESLARATI
Tesla is considering a joint venture with Reliance, India’s largest conglomerate, to build a manufacturing facility and EV infrastructure in India. Elon Musk is set to meet with Prime Minister Modi and is expected to announce details on a potential Tesla factory in India and the company’s investment in the country. Tesla is reportedly surveying potential sites for a manufacturing plant in India and is expected to announce a $2 billion investment in the country, following the Indian government’s new policy for electric vehicles.
Originally Published 1 year ago — by CNBC
Disney and Indian conglomerate Reliance are merging their media units in a $8.5 billion deal, forming a joint venture that will give Disney access to valuable cricket streaming rights in India, a country passionate about the sport. The merger, expected to reach over 750 million viewers, is seen as a strategic move for Disney to regain lost customers in the Indian market after losing streaming rights to the Indian Premier League in 2022. The deal, led by Asia's richest man Mukesh Ambani, aims to bolster Disney's streaming efforts in India and is not expected to hurt Disney's earnings.
Originally Published 1 year ago — by Reuters
Reliance is close to merging its India media business with Walt Disney, with Reliance holding a 51%-54% stake and Disney holding 40%, valuing Disney's Indian operations at $3.5 billion. The deal could create a media behemoth in India's $28 billion market, with Bodhi Tree eyeing a 9% stake in the merged entity. Talks are in advanced stages, and the deal could be closed by mid-February, potentially easing antitrust challenges. Disney's struggles in India, particularly in the streaming business and cricket rights, have led to a subscriber exodus, while Reliance's streaming platform has gained traction by offering free cricket.
Originally Published 1 year ago — by TechCrunch
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.
Originally Published 1 year ago — by Financial Times
Relying on superpowers to protect global trade poses significant risks, as demonstrated by the current tensions between the US and China. The potential for trade disruptions and conflicts could have far-reaching consequences for the global economy, highlighting the need for diversified and resilient trade relationships.
Originally Published 2 years ago — by Reuters India
Indian refiners, including Reliance, have resumed purchasing Venezuelan oil through intermediaries, with Reliance planning to discuss direct sales with state firm PDVSA. This comes after the temporary lifting of U.S. sanctions on Venezuela, leading to increased spot sales of crude and fuel. India, which last imported Venezuelan crude in 2020, aims to reduce its reliance on the Middle East and potentially lower import costs by accessing Venezuela's heavy oil. Three Indian refiners have already bought around 4 million barrels of Venezuelan crude for February delivery. While no cargoes have reached India yet, vessels are expected to depart in December.
Originally Published 2 years ago — by Financial Times
Mukesh Ambani, the chairman of Reliance Industries, has appointed his three children - Akash, Isha, and Anant Ambani - to the board of directors of the company. This move is seen as part of the succession plan for the family business, as Mukesh Ambani aims to ensure a smooth transition of leadership to the next generation.