India’s Reliance Industries is joining hands with the American entertainment company Disney. This ‘friendship’ to revolutionize the OTT world!
The business tie-up was announced on Wednesday, and henceforth all television and OTT operations in India will be combined. The entertainment business has never heard of such an important understanding in recent times. The total value of this bundle will be around 70,472 crores. News of Anandabazar.
Asia’s richest man, Mukesh Ambani, has a majority stake in the alliance. His share is 63 percent. And Disney’s share is 37 percent.
For several days, the entertainment business in this country had to stumble occasionally even the powerful company like Disney. Especially in the OTT business, Disney was taking a beating. They have to pay a huge amount to buy the rights to show cricket matches. This knot will solve all the problems of doing business in India from abroad. Reliance has agreed to spend Rs 11,500 crore for now. With that, OTT’s business will be promoted here.
Disney and Reliance Industries also issued a joint statement announcing the tie-up. It is said, “This organization will become the largest OTT medium for entertainment and sports in India.At a time when Disney was rumored to be winding down its business around the world, such a decision is expected to have a significant impact on the entertainment world, experts said.
The new company will be headed by Nita Ambani, wife of Reliance Industries boss Mukesh Ambani. Uday Shankar will hold the post of Vice Chairperson of the organization
