Reliance, Disney sign binding merger pact, RIL to own 61% in merged entity

As per the pact, the media unit of Reliance and its affiliates are expected to own at least 61 per cent in the merged entity, with Disney holding the rest. Reliance Industries Limited (RIL) and Walt Disney Co have signed a binding pact to merge their media operations in India, Bloomberg reported on Sunday, citing people familiar with the matter. As per the pact, the media unit of Reliance and its affiliates are expected to own at least 61 per cent in the merged entity, with Disney holding the rest. The stake split between the partners may change, depending on how Disney’s other local assets are factored in by the time the deal is closed. The deal is likely to be announced early this week.