2024-02-27 09:03:05
According to Bloomberg which reveals the information, the Indian branch of Disney and the “entertainment” subsidiary of the Indian conglomerate Reliance Industries will merge. The new structure could ultimately represent up to a third of a growing market valued at several tens of billions of euros. A merger which coincides with the marriage of one of the heirs of the Reliance empire where the elite of the business world are expected.
“It’s the wedding of the year.” For weeks now, the Indian press has been multiplying the topics on the preparations for the festivities which will mark the union between Anant Ambani and Radhika Merchant. He is the youngest son of Mukesh Ambani. The CEO of Reliance Industries is the richest man in Asia: Forbes estimates his fortune at $112 billion. Radhika Merchant is the daughter of another industrialist: the boss of the pharmaceutical company Encore Healthcare. The wedding between these two members of the Indian establishment is planned for next July, but the pre-festivities are scheduled to begin on Friday March 1.
The Ambani family did not skimp on expenses: they built 14 temples in the Jamnagar region and twenty-one chefs were recruited to prepare the menu for the pre-festivities and feed the thousand expected guests . The media in India are increasing speculation about the guest list: Mark Zuckerberg, the boss of Meta, Bill Gates, the founder of Microsoft and Bob Iger are notably expected in Gujarat.
A marriage that could give birth to a giant in the sector
The presence of the powerful CEO of Disney was particularly noted since Monday February 26 Bloomberg revealed that Disney India and the entertainment branch of Reliance Industries had signed a “binding pact” confirming their upcoming merger. The entity born from this union is set to become a giant of the sector in India: according to specialists, the new structure could ultimately represent up to a third of a market worth several tens of billions of dollars. A growing market that could reach $100 billion by 2030.
Always according to Bloomberg, Reliance would take majority control of the entity to the tune of at least 60%, with Disney retaining the rest of the shares. Beyond the promises of the Indian market, it is also a way for the group to diversify its Asian footprint. Tensions between Washington and Beijing have regularly placed American entertainment giants at odds in recent years. Last year the American Congress heard the big bosses of Hollywood, pointing out the too numerous concessions of the giants of the sector to the censorship of the Chinese regime and worrying about a possible contagion on all the works produced so as not to compromise a possible release in China.
#Disney #Reliance #birth #entertainment #giant #India