Disney and Reliance Industries have completed the $8.5B deal to form a media and entertainment giant in India.

Reliance Industries and Disney joint venture in India approved by regulators, creating a media powerhouse with TV channels, digital streaming, and

Reliance Industries and Walt Disney on Thursday completed the $8.5 billion merger of their Indian media assets, which have been split into three divisions, with each unit having its own CEO. The companies said the newly formed divisions are entertainment,

India’s entertainment landscape shifted Thursday as Reliance Industries and Disney completed their long-awaited media merger, creating an Indian powerhouse valued at $8.5 billion. The deal combines Disney’s Star India with Reliance’s Viacom18 and streaming platforms JioCinema and Hotstar.

The joint venture has combined revenue of $3.1 billion and over 100 TV channels, 50 million subscribers, and 30,000 hours of TV entertainment content annually

Reliance and Disney have completed their landmark Indian media merger, creating an $8.5 billion entertainment powerhouse that will dominate the streaming and television markets in the world's most populous nation.

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Mukesh Ambani's led Reliance industries, Viacom18 And Disney completed its Rs 70,352 Crore merger. Nita Ambani will play an important role in merged entity.