With a controlling share held by billionaire Mukesh Ambani’s Reliance Industries, the project will establish the largest entertainment company in India, taking on Netflix, Amazon, and Sony.
Most of India’s sporting events, including highly sought-after cricket competitions, will be televised by the joint venture.
As per the reports, Nita Ambani, the spouse of Mr. Ambani, would preside over the merger, which is anticipated to be finished over the next six months.
The agreement is “subject to the compliance of voluntary modifications,” according to a news release issued on Wednesday by India’s antitrust regulator.
It had previously expressed worries about how much power the two businesses would have over broadcasting as a result of this combination.
the most popular sport in the nation, having a huge following.
Free livestreams of cricket events have been a draw for Indian customers to Disney and Reliance’s streaming services for years.
The two businesses reportedly paid $9.5 billion for the right to broadcast and stream the Indian Premier League (IPL), T20 World Cups, and International Cricket Council matches, according to the news agency.
