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Disney & Reliance reportedly sign binding agreement to merge India operations

Walt Disney and Reliance Industries have reportedly signed a binding agreement to merge their India media operations.

Bloomberg reports that the Mukesh Ambani-led Reliance Industries is expected to acquire a 61% stake in the merged entity, while Disney will retain the remaining.

The report adds that the distribution of shares among the partners could alter based on the inclusion of Disney’s additional local assets. Reliance is also said to be keen to acquire Tata Play Ltd., a broadcast service provider, in which Disney holds a minority stake.

Disney and Reliance are yet to comment on the developments.