Disney, Reliance have signed binding media pact, Bloomberg reports citing sources

The media unit of Reliance and its affiliates are expected to own at least 61% of the merged entity

Disney and Reliance logos are seen in this illustration taken December 15, 2023. REUTERS

Walt Disney and industrial conglomerate Reliance Industries have signed a binding pact to merge their media operations in India, Bloomberg News reported on Sunday, citing people familiar with the matter.

The media unit of Reliance, controlled by billionaire Mukesh Ambani, and its affiliates are expected to own at least 61% of the merged entity, with Disney holding the rest, the report said.