Much awaited Reliance-Disney merger is likely to complete by next week, according to a media report, two men with vast experience in the industry will take a lead for a new media powerhouse in the country.
The much-anticipated merger between Viacom18, Digital18, and Star India, backed by Reliance Industries (RIL) and Disney, is expected to be officially finalized next week, creating a new media giant. According to media reports, the newly merged entity will operate under the leadership of Kevin Vaz and Kiran Mani as co-CEOs.
Nita Ambani is the chairperson of the new Reliance-Disney India merger company. She is the wife of billionaire Mukesh Ambani, the chairman of Reliance Industries (RIL). Nita Ambani and Akash Ambani joined the board of Viacom18 when its merger process started with Walt Disney’s Star India. The new board will include representatives from both companies,which will create an $8.5 billion media giant.
Who Are Kevin Vaz & Kiran Mani
Kevin Vaz, who previously held a senior role at Disney Star, will oversee the broadcast and entertainment divisions of the merged company. On the other hand, Kiran Mani, a former general manager at Google who led Android operations in the Asia-Pacific region, will head the digital and sports business. Mani’s expertise extends beyond tech, as he was an early investor and advisor to James Murdoch and Uday Shankar’s Bodhi Tree investment firm. His extensive experience in technology development and partnerships with Hollywood studios is expected to drive the merged entity’s growth in the digital space.
The strategic leadership of Vaz and Mani is expected to leverage synergies across entertainment, sports, and digital platforms, positioning the merged company for significant growth in India’s competitive media industry.
CCI’s Approval To Merger
The Competition Commission of India (CCI) gave its approval for the merger on August 28, with certain modifications agreed upon by the companies. As part of the regulatory requirements, the merged entity will have to divest seven channels, particularly in regional markets like Bengali, Marathi, and Kannada, where their combined market share exceeds the 35-40% threshold. This step aims to prevent monopolistic dominance in these regions.
The merger will result in a combined workforce of approximately 8,000 employees. In preparation for the merger, K Madhavan, Disney Star’s country manager and president, along with Sajith Sivanandan, head of Disney+ Hotstar, have already resigned from their positions. Further executive exits are anticipated as the merged entity optimizes its operations.
Strategic Impact of the Merger
This merger is set to reshape the Indian media landscape, bringing together Viacom18’s extensive network with Disney Star’s strong content library and digital assets.
With the finalization expected next week, the new RIL-Disney media powerhouse is set to become a formidable player in both traditional and digital broadcasting sectors.