Centered on digital transformation, the joint venture is dedicated to delivering consumers top-tier and all-encompassing content accessible anytime and anywhere. By harnessing the expertise and diverse content libraries of Viacom18 and Star India, the joint venture endeavors to furnish engaging entertainment content and live sports streaming services, thereby presenting a pioneering digital entertainment encounter at competitive rates. Furthermore, Disney’s vast collection of renowned films and shows will enrich the joint venture’s offerings, furnishing an irresistible entertainment experience to audiences not only in India but also across the globe.
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Disney will grant exclusive distribution rights for its content in India to the joint venture, including a license to over 30,000 Disney assets, thereby broadening the array of entertainment choices accessible to Indian consumers.
The leadership roles within the joint venture will be assumed by Mrs. Nita M Ambani as Chairperson and Mr. Uday Shankar as Vice Chairperson, who will provide strategic direction for the venture.
The completion of this transaction, expected in either the last quarter of Calendar Year 2024 or the first quarter of Calendar Year 2025, is contingent upon obtaining regulatory and shareholder approvals.
Goldman Sachs, Skadden, Arps, Slate, Meagher & Flom LLP, Khaitan & Co, and Shardul Amarchand Mangaldas & Co are advising RIL and Viacom18 on the transaction, while the Raine Group, Citi, Cleary Gottlieb, Covington & Burling, AZB, and BDO are advising Disney and Star India Private Limited.
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