Reliance Industries, or RIL, Viacom 18 Media and Disney (DIS) announced that following the approval by the Hon’ble NCLT Mumbai, Competition Commission of India and other regulatory authorities, the merger of the media and JioCinema businesses of Viacom18 into Star India Private,

The head of Disney and Reliance Industries’ newly merged $8.5bn Indian entertainment titan plans to invest and “revitalise” television in the world’s most populous country even as western media organisations increasingly see it as a dying medium.

Reliance Industries owns 16.34% stake in the JV, while its subsidiary Viacom18 holds 46.82% and Disney controls remaining 36.84% in the merged entity.