Reliance Industries Limited (RIL), Viacom18 and The Walt Disney Company have officially announced their merger. With this merger, Viacom18's Media and GeoCinema merged with Star India.

The post-merger value of the joint venture is $8.5 billion (₹70,352 crore). Viacom18 will hold 46.82% stake in the venture, Disney will hold 36.84% stake and RIL will hold the remaining 16.34% stake.

Nita Ambani will be the chairperson of the joint venture, while Udaya Shankar will be the vice-chairman.

JioCinema and Disney's Hotstar will be merged on the digital platform, while Star and Colors channels will also be merged on the television front.

“With the formation of this joint venture, the Indian media and entertainment industry will enter a new transformation. Combined with RIL's knowledge of consumer tastes in India and its association with Disney, RIL Chairman and MD Mukesh Ambani said.