Joint venture between Reliance and Disney creates India’s largest media conglomerate

RBB assisted Reliance Industries and The Walt Disney Company with competition clearances for a joint venture combining their entertainment businesses in India, encompassing a range of activities including broadcast TV channels, OTT platforms and content, licensing of content, sale of commercial advertising space, licensing of merchandise and organisation of live events. The joint venture creates India’s largest media conglomerate, valued at $8.5 billion. It was cleared subject to voluntary modifications by the Competition Commission of India, and also received unconditional clearances from the EC and several other jurisdictions. The case involved a large number of horizontal overlaps and several vertical overlaps. 

RBB partners Miguel de la ManoMiguel de la ManoPartner and Paul ReevePaul ReevePartner assisted by Lucy HoldenLucy HoldenAssociate Principal and Mihael RaveggiMihael RaveggiAssociate Principal, worked with law firms Cleary Gottlieb Steen & Hamilton LLP in London and Shardul Amarchand Mangaldas & Co, AZB & Partners, and Khaitan and Co in India.