Mukesh Ambani led Reliance & Disney merger signifies a historic moment in India’s media and entertainment sector, which can redefine the way Indian audiences consume content in the years to come.
Reliance Industries, Viacom18 Media, and The Walt Disney Company have officially merged their TV and digital businesses to form India’s largest media and entertainment joint venture. Announced on November 14, 2024, this mega JV is valued at a staggering Rs 70,352 crore, bringing together a powerhouse of content across television, digital platforms, and sports. Here’s a detailed look at the new leadership structure and strategic roles of this landmark merger.
Nita Ambani and Uday Shankar Roles
Nita Ambani will serve as the Chairperson of the joint venture, providing overall leadership and strategic direction.
Uday Shankar has been appointed as the Vice-Chairperson, where he will focus on offering strategic guidance and driving growth.
Three CEOs to Spearhead Key Divisions
The joint venture will be led by three prominent CEOs, each overseeing a critical segment of the business:
- Kevin Vaz: Head of the Entertainment Division across all platforms, leveraging popular TV channels like Colors and Star.
- Kiran Mani: Chief of the Digital Operations, combining the strengths of JioCinema and Disney+ Hotstar.
- Sanjog Gupta: Leading the Sports Division, which holds exclusive broadcasting rights for IPL, ICC, and BCCI events.
Strategic Leadership and New Appointments
Several high-profile executives have been appointed to drive the strategic vision of this newly formed media behemoth:
- Ambuj Kashyap: Working directly with Uday Shankar, focusing on strategic and business initiatives. He was previously the Co-Founder & Chief Business Officer at IHX.
- Rasesh Upadhyay: Supporting Kevin Vaz in driving the Entertainment Business Strategy and operations.
- Gaurav Gokhale: Collaborating with Kiran Mani on the Digital Business Strategy.
- Alok Jain: Appointed as Head of Cluster, Entertainment (Colors, Digital Hindi, Niche, Movies, and Studio). Formerly President of General Entertainment at Viacom18.
- Sumanta Bose: Taking charge as Head of Cluster, Entertainment (Star Plus and regional channels like Bengali, Marathi, and Gujarati). He was the Business Head for the Hindi-speaking market at Hotstar.
- Krishnan Kutty: Leading as Head of Cluster, Entertainment (South), previously overseeing the South & Marathi regional portfolio.
Revenue, Distribution, and Marketing Heads
- Ajit Varghese: Assigned as Head of Revenue, Entertainment & International, leveraging his expertise from Disney Star’s ad sales.
- Piyush Goyal: Now Head of TV Distribution, after serving as COO at Indiacast Media.
- Sushant Sreeram: Appointed as the Head of Marketing for the joint venture. He joined Viacom18 from Amazon Prime Video.
Technology, Engineering, and Product Innovation
- Bharat Ram: Now Chief Product Officer and Ad Tech Platform Lead, previously at Flipkart, Instagram, and Prime Video.
- Akash Saxena: Head of Technology, leveraging his experience as Chief Technical & Product Officer at Viacom18.
- Shoury Bharadwaj: Leading as Head of Engineering, bringing his expertise from Flipkart.
- Vijay Seshadri: Appointed as Chief Architect, having served as Chief Technical Advisor at Viacom18 and an Engineering Fellow at Swiggy.
Sports, Partnerships, and Business Initiatives
- Ishan Chatterjee: Head of Business for Sports Revenue, SMB, and Creator, with a background from YouTube.
- Hursh Shrivastava: Now Head of Partnerships, focusing on strategy and rights acquisitions for sports content at JioCinema.
HR, PR, Legal, and Financial Integration
- Rishi Gaind: Leading as Head of Human Resources, after a successful tenure at Disney Star.
- George Cherian: Serving as Head of Corporate Communications & PR, a role he previously held at Disney Star.
- Rajat Nigam: Overseeing IT and Media Operations during the transition phase.
- Sandeep Jain: Head of Commercial, transitioning from his role as EVP of Commercials at Star India.
- Mukesh Mundhra: Designated as the Transition Finance Head.
- Mani Rangarajan: Tasked with the Financial Integration of the merged entities.
- Kshripra Jatana: Appointed as the Transition Legal Head to manage legal complexities during the merger.
The Vision Behind the Merger
Mukesh Ambani, Chairman & Managing Director of Reliance Industries, emphasized the transformative potential of this merger, stating, “With the formation of this JV, the Indian media and entertainment industry is entering a new era. Our collaboration with Disney, combined with our deep understanding of the Indian consumer, will provide unparalleled content choices at affordable prices.”
Robert A. Iger, CEO of The Walt Disney Company, echoed the sentiment, calling this joint venture an “exciting moment” for both companies.
A New Era for Indian Media & Entertainment
This merger sets the stage for a formidable player in India’s media landscape, blending the creative expertise of Disney with Reliance’s extensive reach and technological capabilities. With a diverse portfolio of entertainment options across TV, digital, and sports platforms, the new entity is poised to challenge global giants like Netflix, Amazon Prime Video, and SonyLiv, offering Indian viewers a rich blend of content at competitive prices.