Mukesh Ambani eyes India's largest media merger, Netflix, Amazon may suffer
The most anticipated merger of Mukesh Ambani’s Jio Cinema and Disney Hotsar will create the largest media empire with more than 100 TV channels and two streaming platforms.
It is reported that at present the negotiations are in the next phase. Also, Star India and Viacom18's merger agreement is nearly done.
Previously, Jio Cinema purchased IPL rights from Disney Plus Hotstar. After the IPL and FIFA World Cup, the subscribers of Hotstar declined in a major way. However, Disney Hotstar purchased the rights of Asia Cup and Cricket World Cup from Jio Cinema. As Jio Cinema is merging with Disney Hotstar, it is noteworthy that the company was suffering significant losses in the competition with Jio Cinema.
If reports are to be believed, following the Star-Viacom18 merger, Reliance could hold a 51% stake. Also, Disney could receive 40% of the shares, meaning that Reliance Industries, led by Mukesh Ambani, would hold the majority ownership.
Additionally, Netflix and Amazon Prime may find it more difficult to compete with Jio Cinema's potential low-cost plans. Jio may also launch low-cost add-on plans with Jio recharge, aimed at both telecom and OTT users.
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