Reports suggest that Nita Ambani, the founder and chairperson of Reliance Foundation, is poised to take the helm of the new merger entity resulting from the collaboration between Viacom18, Sony India, and media assets of Reliance Industries Limited (RIL) and Walt Disney Company.
As the spouse of billionaire and RIL chairperson Mukesh Ambani, Nita Ambani brings significant expertise and experience to her role. Reliance Foundation, a wholly-owned subsidiary of Reliance Industries, underscores her deep involvement in the conglomerate’s operations.
Moreover, Bodhi Tree, a joint venture led by James Murdoch and Uday Shankar, is expected to hold a 9% stake in the merged entity. Disney will retain around 40% ownership, while RIL will maintain the majority share of 51%, according to the reports.
Uday Shankar, the promoter of Bodhi Tree, is likely to assume the position of vice-chairperson within the Viacom18-Sony India joint venture, further solidifying the leadership structure of the newly formed entity.
Although subject to potential alterations, an official announcement regarding the merger is anticipated to be made on Wednesday, as per the reports. However, on Tuesday, RIL, headquartered in Mumbai, released a statement addressing the speculation surrounding a binding merger agreement between the parties involved.
‘We would like to clarify that we are unable to comment on media speculation, and it would be inappropriate on our part to do so,’ the company stated in a press release. ‘The company evaluates various opportunities on an ongoing basis. Further, there is no information which has not been announced to the stock exchanges and which should have been announced by the company in terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,’ the release emphasised.
The potential merger between these industry giants signifies a significant development within the media landscape, with Nita Ambani poised to steer the combined entity towards new heights in the ever-evolving entertainment industry.
Vakilsearch experts assure that the potential merger, subject to official confirmation, signifies a notable development in the media landscape, emphasising the conglomerate’s commitment to exploring opportunities and adapting to the dynamic entertainment industry. Vakilsearch experts stress the importance of closely monitoring official announcements and adherence to regulatory frameworks as the conglomerate navigates this transformative phase in the media sector.
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