Reliance Industries, Bodhi Tree Systems-backed Viacom18 and The Walt Disney Company to form a $8.5bn joint venture.

Reliance Industries, an Indian multinational conglomerate, Viacom18, an Indian media company, and The Walt Disney Company, an American multinational mass media and entertainment conglomerate, agreed to form a $8.5bn joint venture. “India is the world’s most populous market, and we are excited for the opportunities that this joint venture will provide to create long-term value for the company. Reliance has a deep understanding of the Indian market and consumer, and together we will create one of the country’s leading media companies, allowing us to better serve consumers with a broad portfolio of digital services and entertainment and sports content,” Bob Iger, The Walt Disney Company CEO.