Disney and Reliance Industries have completed the $8.5B deal to form a media and entertainment giant in India. This brings together Reliance’s JioCinema business with Disney’s Star India, which houses Disney+ Hotstar,

After months of anticipation, Reliance Industries Ltd (RIL), Viacom18 and The Walt Disney Company have announced the merger of their media business. With this, the media and JioCinema businesses of Viacom18 have been merged with Star India.

India’s entertainment landscape shifted Thursday as Reliance Industries and Disney completed their long-awaited media merger, creating an Indian powerhouse valued at $8.5 billion. The deal combines Disney’s Star India with Reliance’s Viacom18 and streaming platforms JioCinema and Hotstar.