Reliance Industries Completes Transactions for Joint Venture with Disney

Reliance Industries Ltd. has completed several transactions as part of a joint venture with Disney, including the sale of 65% equity shares in Football Sports Development Limited to Viacom 18 Media Private Limited for Rs. 94.54 crore. The Company has also acquired 63.16% shares of Star Television Productions Limited for Rs. 211.59 crore, making STPL a subsidiary of Reliance Industries. Additionally, the Company has acquired Paramount Global's 13.01% stake in Viacom18 for Rs. 4,286 crore, thereby holding 70.49% (on a fully diluted basis) in Viacom18. The Company has also invested Rs. 11,500 crore in Star India Private Limited and has been allotted 26,05,19,406 equity shares. The composite scheme of arrangement among Viacom18 and its shareholders and creditors & Digital18 Media Limited and its shareholders and creditors & SIPL and its shareholders and creditors has become effective, making SIPL a joint venture controlled by the Company.