Reliance Joins Viacom18 board Instead of Disney

In a significant development, Nita Ambani, Chairperson of Reliance Foundation, and Akash Ambani, Chairman of Reliance Jio Infocomm, have been appointed to the board of Viacom18, a company which is owned by Reliance Industries and Bodhi Tree Systems. This move comes as Viacom18 is at the final stages of its collaboration with Walt Disney’s Star India, which is set to create a media giant valued at $8.5 billion. 

Ambani plays a Major role on Board

After the merger, Nita Ambani is expected to take on the role of CHairperson of the newly-formed media giant, while Uday Shankar, co-promoter of Bodhi Tree Systems and a well-known media executive, will become Vice-Chairperson. This leadership structure can bring strategic direction to the merged entity. 

The board restructuring at Viacom18 marks a major step toward the Reliance-Disney merger, which will consolidate two of the largest media companies in India. In addition to Nita and Akash Ambani, the Viacom18 board now includes James Murdoch, co-promoter of Bodhi Tree Systems, and Mohammed Ahmed Al-Hardan, Head of Technology, Media, and Telecom at the Qatar Investment Authority (QIA). Al-Hardan is representing Bodhi Tree, a major investor in the company. 

This restructuring is seen as the biggest merger moves closer to completion, bringing together Reliance’s Viacom18 and Star India under one entity. 

 Merger: $8.5 Billion Media 

Once the merger is complete, it will create a huge multi billion dollars media conglomerate with a strong foothold across both television and digital platforms. The merged entity is anticipated to deliver important results in terms of content creation, manpower, technology, and monetization strategies. With the merger strengths of Viacom18 and Star India, the new media giant can reshape India’s media landscape. 

The Competitions Commission of India has already approved the merger of media assets of Reliance Industries and The Walt Disney Co to create the country’s largest media empire worth over Rs 70000 crore. 

The deal was going through an inspection by the anti-trust regulator and approval came after the parties proposed certain arrangements to the original transaction structures.