Reliance Industries Limited (RIL) has opted not to provide comments regarding the speculations surrounding a potential merger with Disney, citing an inability to address such conjecture at this time.
This clarification follows reports circulating about an alleged binding agreement between Reliance and Disney, proposing the consolidation of their media operations within India.
Under this purported agreement, it is speculated that Reliance's media division, spearheaded by Mukesh Ambani, would hold a controlling interest of at least 61 per cent in the unified entity, while Disney would retain the remaining stake.
In response to inquiries regarding these reports, Reliance Industries has chosen to refrain from making any official statements, deeming it inappropriate to engage with media speculations of this nature.
The company articulated in a stock exchange filing, "We would like to clarify that we are unable to comment on media speculation and it would be inappropriate on our part to do so."
Nonetheless, reliable sources suggest that a legally binding agreement has indeed been executed between the two conglomerates, signaling their intent to merge their media ventures within the Indian market.
It is envisaged that in this prospective merger, Reliance's media arm would assume a prominent position with a controlling interest, while Disney would possess a minority shareholding.
The proposed Reliance-Disney media amalgamation is positioned to establish the largest media conglomerate in India, encompassing a diverse array of offerings spanning television broadcasting, streaming services, cinematic productions, and sports content.
This consolidated entity is poised to wield considerable influence in the media landscape, boasting a formidable portfolio that includes widely popular television channels like Star Plus and Colors, alongside prominent streaming platforms such as Disney+ Hotstar and JioCinema.
