In a groundbreaking media merger, former Walt Disney executive Uday Shankar is set to assume the role of Vice Chairman of the board following the consolidation of India’s media assets between Reliance Industries and Disney. The formal announcement is expected on Wednesday, marking a significant development in the Indian media and entertainment landscape.
Shankar, currently on the board of Viacom18, the broadcast division of Reliance, brings a wealth of industry experience, having played a pivotal role in the success of Hotstar and Star India’s TV channels. The media veteran’s influence extends to Reliance’s JioCinema streaming app, showcasing his strategic prowess.
The joint venture, Bodhi Tree, led by James Murdoch and Uday Shankar, is anticipated to secure a substantial 9% stake in the newly merged entity, as reported by Reuters in February. The fusion of Reliance and Disney, both prominent players in streaming services with a combined 120 television channels, is poised to reinforce Reliance’s dominance in India’s flourishing $28 billion media and entertainment market.
The emergence of Nita Ambani, the wife of Indian billionaire Mukesh Ambani, as the likely chair of the board, adds another layer of prominence to this transformative media collaboration. The impending announcement is awaited as the industry anticipates the strategic direction this powerful alliance will chart in the dynamic Indian media landscape.
