Disney and Reliance to finalise their merger next week, as per a report.
According to a Bloomberg News story on Tuesday, Reliance Industries and Walt Disney Co. are expected to formally formalise an agreement, possibly as early as Monday, for the merging of their media operations in India through a cash-and-stock deal. The billionaire Mukesh Ambani-led Viacom18, Reliance’s broadcasting arm, is home to JioCinema, which has increased competition for Disney India and other streaming services. Ambani used the Indian Premier League cricket event, over which Disney had previously controlled the digital rights, to deliberately promote the platform by offering free entry. According to Bloomberg’s sources, if the acquisition goes through, Reliance will contribute…