Reliance close to merging media business with Disney India: report

Reliance close to merging media business with Disney India: report

FILE PHOTO: A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photo

Billionaire Mukesh Ambani’s Reliance is close to merging its India media business with Walt Disney with a 51-54% stake, a deal that values the US giant’s Indian operations at just $3.5 billion, said three sources with direct knowledge.

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