Disney and Viacom18 likely to close deal in Feb: Reports
As per media reports, Disney has agreed to sell 60 per cent of its units to Viacom18
Disney and Viacom18 have reached an agreement as per which the former will sell 60 per cent of its units to Viacom18, media networks have reported. The deal is set to close this month, reports said.
The two media giants - Disney and Viacom 18 - signed a non-binding pact in December last year, as per which Reliance was to have a 51% shareholding and Disney 49%.
Insiders had shared with e4m towards the end of 2023 that the valuation and due diligence of the mergers could commence anytime with regulatory approvals to be completed by February 2024.
As per earlier news reports, the non-binding agreement was signed in London and it was attended by Kevin Mayer, who was brought back in an advisory role for the network's TV business.
From the RIL side, Mukesh Ambani's close aide Manoj Modi was present for the signing of the agreement.
It was first reported in October 2023 that Disney was nearing a cash and stock merger deal to sell its India business to Reliance Industries.
The deal was then said to be a 51:49 stock-and-cash merger going in favour of RIL.
