Nita Ambani likely to be chair of the board of merged Reliance-Disney entity: Report

Mukesh Ambani's wife and chairperson of Reliance Foundation, Nita Ambani is likely to be appointed chair of the board of the new entity that is formed post the merger of Reliance and Disney's Indian media assets, reported Reuters quoting sources. This comes, two months after Nita Ambani quit the board of Reliance Industries to focus more on charity work.

Reliance-Disney deal

As per Reuters, Reliance and Disney are closing in on signing their India media merger deal which has been in the works for months. Reliance and Disney have a streaming service as well as 120 TV channels between them. This merger deal is expected to make Reliance's hold over India's $28 billion media and entertainment market.

Also Read: Disney-Reliance multibillion dollar deal to finalise: Report

Reuters had previously reported that Reliance is likely to have a 51%-54% stake in the merged entity, a deal that will value Disney's Indian operations at just $3.5 billion, sharply lower than the $15-$16 billion estimated in 2019.

The report further mentioned that Bodhi Tree, a joint venture between James Murdoch and former top Disney executive, Uday Shankar, is also set to take a stake of around 9% in the new merged entity while Disney will hold around 40%.