Reliance & Disney Star sign non-binding deal for merger in February 2024
Mukesh Ambani’s Reliance and Disney Star have signed a non-binding agreement to merge their India business together in February 2024.
The term sheet, which was signed in London last week, will see Reliance and Disney Star linear and digital services coming under one entity for the first time. Reports say that Reliance is expected to finalise all commercial ratifications and regulatory approvals by February. However, Ambani’s company is keen to wrap it up by January 2024. Furthermore, Reliance is expected to hold a major stake in the merged company.
Hindustan Times reports that the negotiations have been taking place for months. The agreement was signed last week in the presence of Kevin Mayer, a former Disney executive brought back in July by chief executive Bob Iger, and Manoj Modi, a close aide of Mukesh Ambani.
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