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- Reliance Industries has successfully merged its media assets with the India division of the international media conglomerate Walt Disney.
- This has been done to create a new joint venture valued at Rs 70,352 crore.
- In the JV, Reliance Industries has invested Rs 11,500 crore (USD 1.4 billion) for its growth.
- Nita Ambani will serve as the chairperson of the joint venture.
- The JV is worth Rs 70,352 crore (USD 8.5 billion) according to the transaction.
- RIL has control over the JV at the conclusion of the transactions.
- Disney owns 36.84 percent of the joint venture, Viacom18 owns 46.82 percent, and Reliance Industries owns 16.34 percent.
- Mr. Uday Shankar will be the Vice Chairperson of JV.
- The joint venture would rank among India’s biggest media and entertainment firms.
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