Mukesh Ambani’s wife Nita Ambani is going to head the new media company after the merger of Viacom18 and Disney Star India. Notably, She is already a chairperson of Reliance Foundation, owner of IPL team Mumbai Indians, and the Founder and Chairperson of the Nita Mukesh Ambani Cultural Centre.
One of the richest men in the world and Reliance Industries chairman Mukesh Ambani has finalised a crucial deal that will add more zeroes to his wealth. After a year-long negotiation, Reliance Industries has finally completed the merger of Viacom18 and Disney Star India. Now, Reliance has gained access to two OTT platforms, 120 channels, and a database of 750 million viewers. Mukesh Ambani also made another major decision by handing over the reins of this new company to his beloved wife, Nita Ambani.
Notably, Nita Ambani is already a chairperson of Reliance Foundation, owner of IPL team Mumbai Indians, and the Founder and Chairperson of the Nita Mukesh Ambani Cultural Centre.
Nita Ambani To Take Charge Of The New Company
Under the Rs 70,352 crore deal, Reliance will hold a 63.16 percent stake, while Disney will retain a 36.84 percent stake. Nita Ambani will lead the company alongside three CEOs. The joint venture is expected to generate an annual revenue of Rs26,000 crore. Reliance has invested Rs11,500 crore in this venture.
A Massive Responsibility for Nita Ambani
It is a major responsibility on Nita Ambani’s shoulders to lead the massive media company, which includes over 100 channels and two OTT platforms. Notably, there will be three CEOs—Kevin Vaz will lead the entertainment organisation across all platforms, Kiran Mani will look after the joint digital organisation, and Sanjog Gupta will head the joint sports organisation. Uday Shankar will be the vice-chairman of the media company. The major challenge faced by Nita Ambani is competing with OTT giants such as Sony, Netflix, and Amazon.
Impact on Shares
- CLSA’s analysis suggests a potential 70% increase in Reliance’s share prices.
- The recent decline in Reliance’s shares is viewed as a buying opportunity for long-term investors.
- Predictions indicate a positive outlook for Reliance’s ventures by 2025, particularly in green energy.
- A recovery in Reliance’s retail division is anticipated, along with an increase in Jio AirFiber subscribers.
- The potential stock market debut of Reliance Jio may enhance investor confidence.
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