Uday Shankar To Be Vice Chairman In Reliance-Disney India Media Merger

Uday Shankar, former Walt Disney executive will be named as vice chairman of the board post the merger of India media assets between Reliance Industries and Disney, as per sources familiar with the situation, informed Reuters.

Reliance and Disney are anticipated to officially announce the merger on Wednesday following the signing of a binding agreement. As per reports, Shankar is expected to acquire approximately 9 per cent stake in the newly merged entity.

With both Reliance and Disney boasting streaming services and a combined total of 120 television channels, the deal is projected to enhance Reliance's dominance in India's $28 billion media and entertainment market.