On Thursday, Reliance Industries and Walt Disney concluded the $8.5 billion merger of their Indian media holdings, which were divided into three divisions, each with its own CEO.
The firms announced three new divisions: entertainment, which includes Reliance’s Colours TV channels and Disney’s Star; digital, which includes online streaming services JioCinema and Hotstar; and sports.
Kiran Mani, a former Google executive who now oversees JioCinema, will take over the digital organization.
Last month, Reuters reported that Disney Hotstar’s CEO, Sajith Sivanandan, left as corporate integration for the merger progressed. Kevin Vaz, the current CEO of Reliance Viacom 18 Media, will lead the entertainment sector.
Sanjog Gupta, who oversees sports for Disney’s Indian media activities, would lead the amalgamated company’s sports division.
The merger was completed after the firms received essential permission from the country’s antitrust commission in August, easing regulatory concerns over their control over broadcasting rights for cricket, India’s favorite sport.
The combination would create India’s largest entertainment company, with 120 TV channels and two streaming platforms, competing with Sony, Netflix, and Amazon.
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Source: NDTV
