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An update from Walt Disney (DIS) is now available.
Star India, a subsidiary of The Walt Disney Company, is joining forces with Reliance Industries Limited and Viacom18 Media Private Limited to create a joint venture by merging Viacom18 with Star India. This strategic move will see Reliance Industries injecting $1.4 billion into the venture for growth, with ownership distributed among RIL, Viacom18, and The Walt Disney Company. The venture is valued at $8.5 billion, with completion projected for the first half of fiscal 2025, pending regulatory approvals. The Walt Disney Company anticipates recording significant non-cash impairment charges due to the reclassification of Star India’s assets in preparation for the sale.
Learn more about DIS stock on TipRanks’ Stock Analysis page.