The Mukesh Ambani-led RIL has committed to investing Rs 11,500 crore ($1.4 billion) in the JV, which is valued at Rs 70,352 crore ($8.5 billion) post-money, excluding synergies.

RIL, Viacom18, and Disney will own 16.34%, 46.82%, and 36.84% of the JV, respectively. RIL will control the JV as it also owns a majority stake in Viacom18.

Nita Ambani will serve as the Chairperson of the JV, while Uday Shankar will provide strategic guidance to the JV as its Vice Chairperson.

The JV will be one of the leading TV and digital streaming platforms for entertainment and sports content in India, bringing together iconic media assets across entertainment and sports including access to highly anticipated events across television and digital platforms through JioCinema and Hotstar.

The JV will have over 750 million viewers across India and will also cater to the Indian diaspora across the world.

Disney may contribute additional media assets to the JV, pending regulatory and third-party approvals. The JV will acquire exclusive distribution rights for Disney films and productions in India, along with a license to over 30,000 Disney content assets.