As the Reliance Disney merger is set to finalise soon, Mukesh Ambani has taken big decision related to Nita Ambani & Akash Ambani.
In a significant development, Nita Ambani, Chairperson of Reliance Foundation, and Akash Ambani, Chairman of Reliance Jio Infocomm, have been appointed to the board of Viacom18, a company which is owned by Reliance Industries and Bodhi Tree Systems. This move comes as Viacom18 is at the final stages of its merger with Walt Disney’s Star India, which is set to create a media giant valued at $8.5 billion.
Read More: Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On September 26
Nita Ambani, Akash Ambani Major Role On Board
After the merger, Nita Ambani is expected to take on the role of Chairperson of the newly-formed media giant, while Uday Shankar, co-promoter of Bodhi Tree Systems and a well-known media executive, will become Vice-Chairperson. This leadership structure can bring strong strategic direction to the merged entity.
Read More: Gold Price Rises In India: Check 22 Carat Rate In Your City On September 26
The board restructuring at Viacom18 marks a crucial step toward the Reliance-Disney merger, which will consolidate two of the largest media entities in India. Along with Nita and Akash Ambani, James Murdoch, co-promoter of Bodhi Tree Systems, and Mohammed Ahmed Al-Hardan, Head of Technology, Media, and Telecom at the Qatar Investment Authority (QIA), have also joined the Viacom18 board. Al-Hardan is representing Bodhi Tree, which is a key investor in the company.
This restructuring is seen as the biggest merger moves closer to completion, bringing together Reliance’s Viacom18 and Star India under one entity.
Read More: Disney Layoffs: Media Giant Cuts Jobs Across Multiple Departments
Reliance Disney Merger: $8.5 Billion Media Giant
Once completed, the merger will create an $8.5 billion media conglomerate with a strong foothold across both television and digital platforms. The merged entity is expected to deliver significant results in terms of content creation, manpower, technology, and monetisation strategies. With the combined strengths of Viacom18 and Star India, the new media giant can reshape India’s media landscape.
The Competition Commission of India has already approved the merger of media assets of Reliance Industries and The Walt Disney Co to create the country’s largest media empire worth over Rs 70,000 crore.
The deal was going through a scrutiny by the anti-trust regulator and the approval came after the parties proposed certain modifications to the original transaction structure.
