• Tuesday, February 25, 2025

Business

Nita Ambani may become chair of India’s merged Reliance-Disney media entity: report

Nita Ambani’s expected appointment as chairperson will come just months after her departure from the board of Reliance Industries, chaired by her husband Mukesh Ambani.

Indian business personalities Nita Ambani and Mukesh Ambani in Mumbai on January 13, 2024. (Photo by SUJIT JAISWAL/AFP via Getty Images)

By: Shubham Ghosh

NITA Ambani, wife of Indian business tycoon Mukesh Ambani, is poised to assume the role of chairperson of the board when Reliance Industries and Walt Disney merge their media assets in India, Reuters reported citing two informed sources.

Reliance, which is controlled by the Ambani family, and Disney are nearing the finalization of the merger deal for their Indian media operations, a process that has been underway for several months. An official announcement regarding the merger is anticipated to be made late Wednesday (28), according to the sources.

However, it’s to be noted that these plans are subject to change before an official announcement is made. Reliance has not provided any comment in response to inquiries, while Disney has chosen not to comment on the matter, Reuters added.

Nita Ambani’s expected appointment as chairperson will come just months after her departure from the board of Reliance Industries to dedicate more time to philanthropic endeavours. She presently serves as the founder and chairperson of the Reliance Foundation.

She has also played a pivotal role as the founder of the Nita Mukesh Ambani Cultural Centre in Mumbai, which has emerged as a prominent venue for cultural events encompassing music and theatre.

The proposed merger between Reliance and Disney, both wielding significant influence with their streaming services and a collective portfolio of 120 television channels, is poised to fortify Reliance’s position within India’s burgeoning $28 billion media and entertainment sector.

According to a previous report by Reuters, Reliance is anticipated to hold a majority stake of 51-54 per cent in the amalgamated entity, valuing Disney’s Indian operations at approximately $3.5 billion. This valuation marks a significant decrease from the estimated $15-$16 billion in 2019.

Bodhi Tree, a joint venture spearheaded by James Murdoch and former senior Disney executive Uday Shankar, is slated to acquire a stake of around nine per cent in the newly merged company. Disney, on the other hand, is expected to retain approximately 40 per cent ownership.

Shankar was set to be the vice chairman of the board, sources told Reuters.

Disney’s TV and streaming business in India has struggled over the years, with its digital platform witnessing exit of users amid stiff competition with Ambani’s platform over streaming of cricket, India’s most popular sport.

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