Disney deal a new era in entertainment industry

A day after anti-trust regulator CCI greenlit the mega merger of media assets of RIL and Walt Disney, Reliance Chairman Mukesh Ambani on Thursday said the deal marks the beginning of a new era in India’s entertainment industry.

Welcoming Disney to the Reliance family, Ambani said just like Jio and the Retail business, the expanded media business will be an invaluable growth centre in the Reliance ecosystem.

“Let us now talk about our partnership with Disney. This marks the beginning of a new era in India”s entertainment industry. We are combining content creation with digital streaming,” he said at the RIL AGM.

On Wednesday, Competition Commission of India approved the merger of media assets of Reliance Industries and The Walt Disney Co to create the country”s largest media empire worth over Rs70,000 crore. Reliance, through holding firm Network 18, owns TV18 news channels as well as a plethora of entertainment (under the “Colors” brand) and sports channels.

“We will provide world-class digital entertainment across the spectrum,” Ambani said, adding that “We will cater to every consumer”s taste.