Finance Project 16-05-24

“MERGER AND ACQUISITION: RELIANCE’s MEDIA A MERGER
DISNEY +HOTSTAR”
IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR

Master of Management Studies (University of Mumbai)
2022-2024 Batch
ROLL Number: - P15
SUBMITTED TO:
DR. V. N. BEDEKAR INSTITUTE OF MANAGEMENT STUDIES, THANE.
DECLARATION BY THE CANDIDATE
This is to certify project report entitled “…………………………”which is submitted by me in partial

fulfillment of the requirement for the award of Master of Management Studies,(University of
Mumbai) Dr. V.N. Bedekar Institute of Management Studies, comprises of my original work and due
acknowledgment has been made in the text to all other material used.
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research monographs, archives of newspapers, corporate, individuals, business / Government and
any other source of intellectual properties viz., speeches, quotations, conference proceedings, extracts
from the website, working paper, seminal work et al, they have been clearly indicated, duly
acknowledged and included in the Bibliography.
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partial fulfillment of the requirement for the award of Master of Management Studies,(University of
Mumbai) Dr. V.N. Bedekar Institute of Management Studies, is a record of the candidate's own work
carried out by him under my guidance. The matter embodied in this report is original and due
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Date
TABLE OF CONTENT
Chapter Content Page No.

No.
1 Introduction
1.1 Motivations behind the Merger
1.2 Content Creation and Distribution

1.3 Global Reach and Expansion
1.4 Operational Synergies and Cost Efficiencies
1.5 Challenges and Complexities
1.6 Impact on the Indian Media Landscape
1.7 Future Outlook and Expectations
2 Objectives and scope of study
3 Literature Review
4 Research methodology
5 Finding
6 Suggestion
7 Conclusion
8 Bibliography
1. INTRODUCTION
Overview of the Merger:
The former competitors, who were until recently engaged in a fierce war for IPL rights,
have decided to establish a joint venture (JV) in order to strengthen RIL's position in the
Indian M&E market and lessen Disney's presence there in the face of fierce competition.
TV channels including Colors, StarPlus, StarGOLD, Star Sports, and Sports18, as well
as streaming apps JioCinema and Disney+ Hotstar, would be combined under this joint
venture between RIL, its broadcast company Viacom 18, and Disney. Through the
agreement, the companies of Viacom18 and Star India would be combined, with
Viacom18's media venture becoming Star India Private Limited. RIL will have control
over the JV. Disney will hold a 36.84% share, Viacom18 will control 46.82%, and RIL
will own 16.34% under the terms of the agreement. Disney might possibly provide the
JV with a few more media assets, pending regulatory and third-party permissions. RIL's
growth strategy will see it invest Rs 11,500 crore, or around $1.4 billion, into the JV.
The vice chairman of the JV will be Uday Shankar, a co-founder of Bodhi Tree Systems,
which has a stake in Viacom18, and the chairperson will be Nita Ambani. Shankar, a
former head of Disney India who oversaw Star India, will offer overarching strategic
direction.
Significance in the Media and Entertainment Industry:

In terms of streaming, the deal will combine JioCinema, a significant player in the ad-
supported video streaming industry, with Disney+ Hotstar, which presently leads the
nation's subscription-based video streaming market with 38.3 million users. JioCinema
boasted over 237 million monthly active users as of September of last year. This
indicates that the combined entity has changed. The merger between Reliance and
Disney India holds immense significance within the media and entertainment industry,
both nationally and globally. It marks a significant milestone in Reliance's strategic
endeavors to establish a strong foothold in the entertainment sector, aligning with its
broader vision of becoming a key player in the global entertainment market. Disney
India, with its rich legacy and expertise, offers Reliance access to unparalleled content
creation capabilities and a vast portfolio of intellectual properties. This merger not only
enhances Reliance's competitive edge but also positions the merged entity as a major
player capable of shaping the future of the entertainment landscape. Additionally, the
merger underscores the increasing convergence between traditional media and digital
platforms, reflecting the evolving preferences and consumption patterns of audiences
worldwide.
1.1 Motivations behind the Merger
1. Strategic Motivations
A number of strategic considerations intended to capitalize on new developments in the
media and entertainment industry drove Reliance's decision to combine with
Disney+Hotstar. Reliance understands the need to solidify its position in this quickly
changing market as customer tastes for entertainment consumption are moving more and
more toward digital platforms. Through the Disney+Hotstar deal, Reliance has instant
access to one of India's top digital streaming platforms, giving it access to a sizable and
constantly expanding user base. Reliance may also become less dependent on conven-
tional business areas and increase its revenue sources thanks to the merger, which makes
it more resilient to changes in the market.
2. Synergy of Resources and Expertise

2. Objectives and scope of study
 To analyze the strategic motivations driving Reliance's merger with

Disney+Hotstar.
 To evaluate the synergies between Reliance's resources and Disney+Hotstar's

digital streaming expertise.
 To assess how the merger aligns with Reliance's vision to establish a dominant
presence in the global entertainment market.
 To examine the potential impact of the merger on the Indian media landscape.
 To investigate the implications of the merger for competitors and existing market
players.
 To explore the opportunities and challenges associated with integrating two

distinct corporate cultures.

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“MERGER AND ACQUISITION: RELIANCE’s MEDIA A MERGER

IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR

ROLL Number: - P15

This is to certify project report entitled “…………………………”which is submitted by me in partial

Authorized Signature and Seal of the Company

Chapter Content Page No.

1.2 Content Creation and Distribution

Significance in the Media and Entertainment Industry:

1.1 Motivations behind the Merger

2. Synergy of Resources and Expertise

 To analyze the strategic motivations driving Reliance's merger with

 To evaluate the synergies between Reliance's resources and Disney+Hotstar's

 To explore the opportunities and challenges associated with integrating two

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