As the highly anticipated merger between Reliance Industries’ Viacom18 and Walt Disney Star India approaches, Nita Ambani, Founder and Chairperson of Reliance Foundation, along with her son Akash Ambani, has joined the board of Viacom18, a media company owned by RIL and Bodhi Tree Systems, according to sources.
The appointments of Nita and Akash, who is the chairman of Reliance Jio Infocomm, come at a crucial time and represent a significant step in the merger process of these prominent media companies.
As per the reports, other individuals joining the Viacom18 board include James Murdoch, co-promoter of Bodhi Tree Systems; Mohammed Ahmed Al-Hardan, Head of Technology, Media, and Telecom at the Qatar Investment Authority (QIA), a key investor in Bodhi Tree; Jyoti Deshpande, President of the Media & Content Business at RIL; and Shuva Mandal, Partner at Anagram Partners.
Under the merger scheme approved by the National Company Law Tribunal (NCLT), Viacom18 will initially transfer its assets to its wholly-owned subsidiary, Digital18. Subsequently, Digital18 will transfer these assets to Star India in exchange for shares, effectively merging the operations of both companies into a unified structure.
The joint venture between Viacom18 and Walt Disney’s Star India is valued at ₹70,352 crore (approximately $8.5 billion) on a post-money basis, excluding any synergies.
The joint venture will be controlled by RIL, with ownership divided as follows: 16.34% by RIL, 46.82% by Viacom18, and 36.84% by Disney. Disney may also add certain additional media assets to the joint venture, pending regulatory and third-party approvals.
