Media Merger Mania: Reliance and Disney Create India's Largest Media Empire

Shares of TV18 Broadcast and Network18 Media surged significantly after the Competition Commission of India approved the merger of media assets from Reliance Industries and The Walt Disney Co, forming India's largest media conglomerate valued at over Rs 70,000 crore. This deal reshapes the media landscape significantly.

Shares of TV18 Broadcast and Network18 Media & Investments saw a notable surge on Thursday, following the green light from the Competition Commission of India for the merger of media assets between Reliance Industries and The Walt Disney Co. This merger, poised to create India's largest media empire with a valuation exceeding Rs 70,000 crore, promises to reshape the country's media landscape.

The stock of TV18 experienced a significant jump of 7.66 percent, trading at Rs 51.61 on the BSE, while at its peak during the day, it soared 13.18 percent to Rs 54.26. Network18 also saw a climb of 3.42 percent to Rs 99.51 per share, hitting an intra-day high of 10.17 percent at Rs 106.01.

Announced six months ago, the deal faced intense scrutiny by the anti-trust regulator. The approval was granted after the parties agreed to certain modifications in the original transaction structure. Under the new deal, Reliance Industries and its affiliates will hold 63.16 percent of the combined entity, while The Walt Disney Co will maintain a 36.84 percent stake.