After weathering significant streaming losses, Walt Disney Co. has announced its merger with Reliance Industries in India. The joint venture will combine the TV and streaming media assets of Reliance-backed Viacom18 and Disney’s Star India. Reliance is investing $1.4 billion to acquire a 63% stake in the venture, valuing it at $8.5 billion. The move aims to create one of India’s top media companies, providing a diverse range of digital services, entertainment, and sports content. The transaction is set to be completed in late 2024 or early 2025, subject to regulatory and shareholder approvals.