2024 is going to be a ground-breaking year for industries across the globe with two historic mergers in sight.
The two upcoming unions – Zee and Sony as well as Reliance-owned Viacom18 and Disney India – both comprise of leading giants and are set to take the broadcast industry by storm, reshaping its landscape forever.
While the Zee-Sony merger has been delayed, with Zee seeking an extension of the timeline, it nonetheless appears to be an eventually definite union. However, what truly stunned both industry insiders and outsiders was the agreement between the Ambani-owned Reliance India and Walt Disney India, which led to them recently signing a 51:49 cash and stock non-binding agreement, giving slightly more control to Reliance. They had been in talks for a while, but the agreement finally made their understanding official and public with regards to both parties. This will inevitably transform India’s media, altering its television and OTT viewing experience.
Currently, Disney Star owns over 70 TV channels in eight languages along with a film studio and a streaming platform, Disney+Hotstar. Reliance’s Viacom18 owns 38 TV channels, a film studio and a digital streaming platform, Jio Cinema. Combined, the two will dominate the market with over 100 TV channels, two film studios and two streaming platforms. The Zee-Sony merger will have similar effects, combining their own channels, platforms and studios to create a powerhouse.
Reportedly, both big mergers will likely be completed within the first half of 2024, with their momentous impact rippling through the rest of the year. However, only time will tell if they will go ahead as planned, or if they will face sudden obstacles and even more delays.
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