All articles tagged with #reliance industries
Originally Published 2 months ago — by Tribune India
India plans to reduce its direct imports of Russian crude oil from late November due to new US sanctions on Rosneft and Lukoil, leading major refiners like Reliance, Mangalore Refinery, and HPCL-Mittal to halt or reduce Russian oil purchases, with alternative sourcing and complex logistics expected to fill the gap.
Originally Published 5 months ago — by The New York Times
The article discusses how Indian oil refineries, particularly Reliance Industries in Jamnagar, profit from Russian oil imports amidst geopolitical tensions, with U.S. sanctions targeting companies like Reliance due to their involvement in Russian oil trade, highlighting the complex interplay between India's energy needs and international politics.
Originally Published 1 year ago — by NDTV
Reliance Industries Ltd. has seen a $50 billion drop in market capitalization since July due to weakening earnings and an economic slowdown. The company's shares have underperformed the NSE Nifty 50 Index, marking the widest gap in a decade. Despite broader Indian markets performing well in 2024, Reliance's recent earnings missed estimates for the sixth consecutive quarter, primarily affecting its oils-to-chemicals business. The company offered a free share to investors but provided no updates on the listings of its telecom and retail units.
Originally Published 1 year ago — by CNN
Anant Ambani, heir to India's richest man, married pharmaceutical heiress Radhika Merchant in a lavish ceremony attended by global celebrities and Indian dignitaries. The event, held at the 16,000-capacity Jio World Convention Center in Mumbai, featured extravagant fashion, performances by international stars, and traditional Indian rituals. The wedding, part of a seven-month celebration, showcased the Ambani family's immense wealth and influence.
Originally Published 1 year ago — by Yahoo Finance
Paramount Global is selling its 13% stake in Indian broadcasting unit Viacom18 to Reliance Industries for over $500 million, as part of its efforts to delever its balance sheet. The deal reflects Paramount's focus on licensing content and improving financials, while also indicating the tough market conditions in India. With the M&A rumor mill in full swing, Paramount's CEO has expressed openness to deals in order to create shareholder value, as the company navigates the competitive streaming space.
Originally Published 1 year ago — by Variety
Paramount Global has sold its 13% stake in Indian TV and streaming company Viacom18 to Reliance Industries for $517 million, as part of efforts to strengthen its balance sheet. This comes after Reliance's merger with Disney's Star India and Viacom18. The sale is subject to regulatory approvals and completion of the joint venture involving Reliance, Viacom18, and Star Disney, with Paramount continuing to license its content to Viacom18 after the closing.
Originally Published 1 year ago — by Hollywood Reporter
Paramount Global is selling its 13 percent stake in Indian media company Viacom18 to Reliance Industries for approximately $517 million. Reliance, which is already the majority shareholder in Viacom18, has recently formed a joint venture with Disney's Star India, with Reliance investing $1.4 billion into the JV. The deal is subject to regulatory conditions and the completion of the joint venture involving Reliance, Viacom18, and Star Disney. Despite the sale, Paramount will continue to license its content to Viacom18. This comes amid uncertainty about Paramount's future, with talks of a possible merger with Warner Bros. Discovery and a $30 billion offer from media mogul Byron Allen.
Originally Published 1 year ago — by Reuters
The pre-wedding celebrations of Anant Ambani and Radhika Merchant, the son of Reliance Industries' Chairman Mukesh Ambani, drew a star-studded guest list including Rihanna, Bill Gates, Ivanka Trump, Mark Zuckerberg, and several Bollywood celebrities. The extravagant event in India featured performances, drone shows, and lavish displays, with the Ambani family known for their opulent celebrations.
Originally Published 1 year ago — by Reuters
Reliance Industries and Walt Disney have announced the merger of their India TV and streaming media assets, creating an $8.5 billion entertainment powerhouse with Reliance holding a majority stake. The merger aims to address Disney's struggles in the Indian market, particularly in its streaming business, and will give Reliance significant bargaining power in advertising contracts. The combined entity will have 120 TV channels, two streaming platforms, and cricket rights, positioning it as a major player in India's media and entertainment sector.
Originally Published 1 year ago — by BBC.com
Disney is merging its Star India service with Viacom18, backed by Reliance Industries, in an $8.5bn deal led by Asia's richest man, Mukesh Ambani. Reliance will inject $1.4bn to help the firm grow, creating one of the biggest media forces in India. The joint venture aims to address challenges in the Indian streaming market, where Reliance outbid Disney for rights to stream the popular India Premier League cricket tournament in 2022. The deal, expected to be completed by the end of this year or early next year, will see Disney owning a 37% stake, Viacom18 holding 47%, and Reliance having 16%.
Originally Published 1 year ago — by Financial Times
Disney has struck an $8.5 billion deal to merge its India business with Reliance Industries, aiming to expand its footprint in the country's rapidly growing media and entertainment market.
Originally Published 1 year ago — by The New York Times
The Walt Disney Company has announced a joint venture with India's Reliance Industries in an $8.5 billion deal, marking the end of Disney's solo efforts to gain a foothold in India's media market. Reliance, owned by Mukesh Ambani, will be Disney's senior partner in the deal, creating a media powerhouse in India. As part of the deal, Disney will merge its Indian operations with those of Viacom18, a part of Reliance Industries, with Reliance and Viacom18 holding 63 percent of the new venture and Disney holding 37 percent.
Originally Published 1 year ago — by Hollywood Reporter
Disney has finalized an $8.5 billion deal to merge its India business with Reliance Industries, forming a joint venture that will combine Reliance’s Viacom18 and Disney’s Star India. Under the terms of the deal, Reliance will invest $1.4 billion into the JV, with Disney becoming a minority shareholder owning just under 37% of the combined companies. The JV will have exclusive rights to distribute Disney films and productions in India, and Disney CEO Bob Iger expressed excitement about the opportunities this partnership will bring in serving consumers with digital services, entertainment, and sports content in India.
Originally Published 1 year ago — by Variety
The Walt Disney Company and Reliance Industries have merged their Indian TV and streaming businesses, with Reliance's Viacom18 merging with Disney's Star India in a deal estimated at $8.5 billion. The merged entity will have Reliance owning 16.3%, Viacom18 owning 46.8%, and Disney owning 36.8%, with Nita Ambani as chair and Uday Shankar as vice chair. The joint venture aims to reshape the Indian media and entertainment scene, commanding a 40% market share and exclusive rights to distribute Disney films in India. This move comes after Disney's dominance in India was challenged by Reliance's suite of Jio-branded operations, and the merger is expected to attract regulatory attention.
Originally Published 2 years ago — by Fortune
Reliance Industries, controlled by Asia's richest tycoon Mukesh Ambani, is reportedly close to finalizing a cash and stock deal to acquire Walt Disney's India operations, valued at around $10 billion. The deal may involve Reliance merging some of its media units into Disney Star, and Disney could retain a minority stake in the Indian company. The acquisition could be announced as early as next month. This move highlights Ambani's disruption of India's entertainment industry, following his previous acquisitions of streaming rights to the Indian Premier League and a multi-year pact to broadcast HBO shows in India.