The merger creates the largest media group in India, with streaming platforms JioCinema and Hotstar combining for 100+ channels and more than 50 million subscribers.

(Reuters) - Reliance Industries and Walt Disney on Thursday completed the $8.5 billion merger of their Indian media assets, which have been split into three divisions, with each unit having its own CEO.

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.

Reliance and Disney have completed their landmark Indian media merger, creating an $8.5 billion entertainment powerhouse in the country's streaming and Reliance and Disney complete landmark Indian media merger,

The head of Disney and Reliance Industries’ newly merged $8.5bn Indian entertainment titan plans to invest and “revitalise” television in the world’s most populous country even as western media organisations increasingly see it as a dying medium.

Media and entertainment heavyweights Reliance Industries (RIL) and Walt Disney have completed the merger of their various Indian media assets - including the Viacom18 and Star India broadcasters - in a deal worth $8.

Reliance and Disney, on Thursday, announced the completion of their Joint Venture (JV) . In an exchange filing, Mukesh Ambani -led Reliance Industries Limited (RIL) said that the merger is set to create one of the biggest media conglomerates in India.