Nita Ambani, the powerhouse behind Reliance Foundation, will take the helm as chairperson of the newly merged Star India-Viacom18 entity. Alongside her, media mogul Uday Shankar will serve as vice chairperson, as per an ET report.
What to know?
As highlighted in the report, this merger marks a monumental shift, blending Nita Ambani’s extensive involvement in sports, including the Mumbai Indians IPL team and the Indian Super League, with Shankar’s media expertise. Ambani’s role in global sports, highlighted by her election to the International Olympic Committee, underscores her influential presence in this new venture.
The deal, which has been under the radar, is anticipated to be officially unveiled this Wednesday, bringing together two giants in the entertainment sector. Shankar, representing Reliance’s interests, will also join the merged company’s board, reflecting the strategic importance of this consolidation.
Reliance’s ambitious plan outlines a majority stake in the merged entity, signalling a significant investment aimed at propelling growth and acquiring Paramount Global’s shares, thereby reshaping the media and entertainment industry’s future.
(The article is published under a mutual content partnership arrangement between The Free Press Journal and Benzinga)
