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Tag: Nita M. Ambani

  • Reliance and Disney announce strategic joint venture

    Reliance and Disney announce strategic joint venture

    Mumbai: Reliance Industries Ltd (“RIL”), Viacom 18 Media Private Ltd (“Viacom18”) and The Walt Disney Company (NYSE: DIS) (“Disney”) today announced the signing of binding definitive agreements to form a joint venture (“JV”) that will combine the businesses of Viacom18 and Star India. As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited (“SIPL”) through a court-approved scheme of arrangement.

    In addition, RIL has agreed to invest at closing Rs 11,500 crore (~US$ 1.4 billion) into the JV for its growth strategy.

    The transaction values the JV at Rs 70,352 crore (~US$ 8.5 billion) on a post-money basis, excluding synergies. Post completion of the above steps, the JV will be controlled by RIL and owned 16.34 per cent  by RIL, 46.82bper cent  by Viacom18 and 36.84 per cent  by Disney.

    Disney may also contribute certain additional media assets to the JV, subject to regulatory and third-party approvals.

    Nita M. Ambani will be the chairperson of the JV, with Uday Shankar as vice chairperson providing strategic guidance to the JV.

    The JV will be one of the leading TV and digital streaming platforms for entertainment and sports content in India, bringing together iconic media assets across entertainment (e.g. Colors, StarPlus, StarGOLD) and sports (e.g. Star Sports and Sports18) including access to highly anticipated events across television and digital platforms through JioCinema and Hotstar. The JV will have over 750 million viewers across India and will also cater to the Indian diaspora across the world.

    The JV will seek to lead the digital transformation of the media and entertainment industry in India and offer consumers high-quality and comprehensive content offerings anytime and anywhere. The combination of the media expertise, cutting-edge technology and diverse content libraries of Viacom18 and Star India will allow the JV to offer more appealing domestic and global entertainment content and sports livestreaming services, while delivering an innovative and convenient digital entertainment experience at affordable prices. With the addition of Disney’s acclaimed films and shows to Viacom18’s renowned productions and sports offerings, the JV will offer a compelling, accessible and novel digital-focused entertainment experience to people in India and the Indian diaspora globally.

    The JV will also be granted exclusive rights to distribute Disney films and productions in India, with a license to more than 30,000 Disney content assets, providing a full suite of entertainment options for the Indian consumer.

    Speaking about the JV,  Reliance Industries , chairman & managing director Mukesh D Ambani said, “This is a landmark agreement that heralds a new era in the Indian entertainment industry. We have always respected Disney as the best media group globally and are very excited at forming this strategic joint venture that will help us pool our extensive resources, creative prowess, and market insights to deliver unparalleled content at affordable prices to audiences across the nation. We welcome Disney as a key partner of Reliance group.”

    The Walt Disney CompanynCEO Bob Iger said, “India is the world’s most populous market, and we are excited for the opportunities that this joint venture will provide to create long-term value for the company.

    Reliance has a deep understanding of the Indian market and consumer, and together we will create one of the country’s leading media companies, allowing us to better serve consumers with a broad portfolio of digital services and entertainment and sports content.”

    Bodhi Tree Systems , co-founder Uday Shankar said, “We are privileged to be enhancing our relationship with Reliance to now also include Disney, a global leader in media & entertainment. All of us are committed to delivering exceptional value to our audiences, advertisers, and partners. This joint venture is poised to shape the future of entertainment in India and accelerate the Prime Minister’s vision of making Digital India a global exemplar.”

    The transaction is subject to regulatory, shareholder and other customary approvals and is expected to be completed in the last quarter of Calendar Year 2024 or first quarter of Calendar Year 2025.

    Goldman Sachs is acting as financial and valuation advisor and Skadden, Arps, Slate, Meagher & Flom LLP, Khaitan & Co and Shardul Amarchand Mangaldas & Co are acting as legal counsels to RIL and Viacom18 on the transaction. Ernst & Young has provided an independent valuation to RIL and Viacom18, while HSBC India acting as financial advisor has provided a Fairness Opinion to Viacom18.

    The Raine Group is acting as lead financial advisor to Disney on the transaction. Citi is acting as a financial advisor to Disney. Cleary Gottlieb served as lead outside counsel to Disney and Covington & Burling and AZB served as legal counsels to Disney on the transaction. BDO has provided an independent valuation to SIPL.

  • Hero ISL reports viewership of 429 million across the nation

    Hero ISL reports viewership of 429 million across the nation

    MUMBAI: Hero Indian Super League (ISL), a joint venture by IMG-Reliance and Star India has created history in India with a record- breaking reach on television, in stadia and digital.  

    As per the TAM data, an aggregate of 429 million viewers from across the nation tuned in to watch the inaugural season of Hero ISL live on their televisions screens, making it the second most-watched sport in the country after cricket. Over 1.5 million fans watched it on ground, in-stadia, making it the fourth most attended football league in the world. Stadia were packed close to full capacity with attendance averaging about 26,000 fans per match. 

    The league cut across demographic boundaries and captured the imagination of a diverse fanbase, with women and children accounting for 57 per cent of the 429 million viewers.

    The Hero ISL was telecast live on eight channels in five different languages cross the Star India network. The league was also aired on starsports.com which had more than 32 million visits recorded during the tournament, surpassing the online audience even for the FIFA World Cup 2014. Across web, mobile and app, starsports.com recorded over 17 million online video views through the course of the tournament. The final match played between Kerala Blasters FC & Atletico de Kolkata recorded 1.6 million online visits. 

    Talking about the league’s success, Star India CEO Uday Shankar said, “Launched with the aim of helping football take root among the country’s masses, the Hero ISL was backed by an aggressive broadcast plan to bring an unparalleled football experience to the viewers. Our intent was to awaken the passion of football and create the birth of a footballing nation. The resultant success of the Hero ISL justifies it as the right platform for tapping the passion for the sport that exists in India. As we gear for a bigger and better second edition, I would like to thank our partners IMG- Reliance, AIFF, all the club owners and more than 400 million fans for making this dream a reality.”

    On 20 December 2014, the Hero ISL finale, held at DY Patil Stadium in Mumbai, had about 37,000 fans in attendance. The crowning of the first Hero ISL league champion was also watched by 57 million viewers, 2.4x of the reach of 2014 FIFA World Cup final, culminating the over two months long league. The final, with an average TVT of 1418 among M 15+ ABC, registered as the highest rated match of the tournament, 11 per cent higher than the opening match of the tournament. In the social media front, Hero ISL created a total of 2.2 million conversations with more than 275,000 unique authors, generating 11 billion potential impressions. #ISLfinal trended at #2 worldwide on Twitter, and Atletico de Kolkata at #1 in India on Facebook on the day of the finale.

     

    According to IMG-Reliance Chairperson Nita M Ambani, the success of Hero ISL is a realisation of the dream of a billion including Indians to experience and embrace the beauty of football. She said, “The beautiful game has successfully captured the imagination of people of India and we have experienced the joy of watching the birth of a footballing nation. Hero ISL has been geared towards one overarching objective— to develop football across the country in a systematic and holistic manner, and its success will spur the development of Indian football. I extend my gratitude to the people of India for their love and support.”

     

  • Reliance, Star India, IMG brings ‘Indian Super League’ for football to India

    Reliance, Star India, IMG brings ‘Indian Super League’ for football to India

    MUMBAI: Reliance Industries, Star India and IMG are set to launch the “Indian Super League”, an unrivalled football championship that will foster local talent and feature international stars with the aim of making the game one of the country’s flagship sport and India – a name to reckon with in the global arena.

    The league promises to revolutionise the sport from the very get-go, leveraging the strengths of all three partners who are focused on growing the game to national prominence, offer Indian football greater global exposure and eventually help India qualify for the 2026 World Cup.

    Reliance, India’s largest business enterprise, Star India, the nation’s biggest TV network and entertainment conglomerate, and IMG, a leader in sports management, have a storied tradition of innovation, competitiveness and institutional commitment that will propel the venture, in which the partners will have proportionate stakes. 

    The “Indian Super League” will feature eight city specific teams to start with and will tap the burgeoning interest among the country’s young population that’s increasingly seen taking interest in the sport globally. The League will kick-off in January 2014 and will run through March 2014, with plans for a second window in the same year. 

    Star India, which also owns the broadcast and sponsorship rights, will use its leading network to take the League to millions of households and also monetise the content on and off-field.? Globally, football is world’s favourite sport, ranking highest in terms of participation, number of fans, TV viewership, sponsorship and revenues. Annual global revenue for football globally is estimated at $28 billion, according to a study by AT Kearney. Star India, which also holds telecast rights to BCCI cricket matches in India, will use its superior content creation, packaging and presentation expertise to whet and retain viewer interest. 

    “Football, with its largely untapped potential in the country, has the opportunity to grow to an unrivalled commercial success quite unlike any other sport. We hope the growing football footprint will pave the way for the nation’s sporting renaissance”, said IMG-Reliance chairperson Nita M. Ambani.

    “India is hungry for its second sport. Combined with our expertise in sports production, our attempt is to bring an unparalleled football experience to our viewers”, said Star India CEO Uday Shankar. “For far too long, the Indian sports fan has quietly waited for this revolution on the cusp of which we stand today. Our objective is nothing short of creating a movement around football in India. We want to put India on the global map.”

     

    “The ‘Indian Super League’ will feature international football stars combined with good football facilities, rivalry between India’s biggest cities and the roar of a billion passionate fans,” said IMG Worldwide chairman and CEO Mike Dolan. “It envisions creating new football powerhouses in this part of the world, which will rise to global prominence as the country and the sport further develop.”

    The League will have world-class international players play with the best from India. Each team will have one marquee player, international players and the best of Indian talent. Given India’s burgeoning interest in football and the country’s long association with the sport, the ‘Indian Super League’ is on the threshold of launching a revolutionary new football culture in the country.

    The ‘Indian Super League’ will also implement various football development projects aimed at holistic development of the sport in the country, including engaging with the masses to get them excited about football, encouraging families to regularly involve their children in football, creating an infrastructure to identify talented footballers at a young age and groom them into elite professionals and creating a critical mass of highly talented coaches to work at all levels of football in India.

  • Reliance, Star India, IMG brings Indian Super League for football to India

    Reliance, Star India, IMG brings Indian Super League for football to India

    MUMBAI: Reliance Industries, Star India and IMG are set to launch the “Indian Super League”, an unrivalled football championship that will foster local talent and feature international stars with the aim of making the game one of the country’s flagship sport and India – a name to reckon with in the global arena.

     

    The league promises to revolutionise the sport from the very get-go, leveraging the strengths of all three partners who are focused on growing the game to national prominence, offer Indian football greater global exposure and eventually help India qualify for the 2026 World Cup.

     

    Reliance, India’s largest business enterprise, Star India, the nation’s biggest TV network and entertainment conglomerate, and IMG, a leader in sports management, have a storied tradition of innovation, competitiveness and institutional commitment that will propel the venture, in which the partners will have proportionate stakes.

     

    The “Indian Super League” will feature eight city specific teams to start with and will tap the burgeoning interest among the country’s young population that’s increasingly seen taking interest in the sport globally. The League will kick-off in January 2014 and will run through March 2014, with plans for a second window in the same year.

     

    Annual global revenue for football globally is estimated at USD 28 billion,according to a study by AT Kearney. Star India,which also holds telecast rights to BCCI cricket matches in India,will use its superior content creation,packaging and presentation expertise to whet and retain viewer interest.

     

    “Football, with its largely untapped potential in the country, has the opportunity to grow to an unrivalled commercial success quite unlike any other sport. We hope the growing football footprint will pave the way for the nation’s sporting renaissance”, said IMG-Reliance chairperson Nita M. Ambani.

     

    “India is hungry for its second sport. Combined with our expertise in sports production, our attempt is to bring an unparalleled football experience to our viewers”, said Star India CEO Uday Shankar. “For far too long, the Indian sports fan has quietly waited for this revolution on the cusp of which we stand today. Our objective is nothing short of creating a movement around football in India. We want to put India on the global map.”

     

    “The ‘Indian Super League’ will feature international football stars combined with good football facilities, rivalry between India’s biggest cities and the roar of a billion passionate fans,” said IMG Worldwide chairman and CEO Mike Dolan. “It envisions creating new football powerhouses in this part of the world, which will rise to global prominence as the country and the sport further develop.”

     

    The League will have world-class international players play with the best from India. Each team will have one marquee player, international players and the best of Indian talent. Given India’s burgeoning interest in football and the country’s long association with the sport, the ‘Indian Super League’ is on the threshold of launching a revolutionary new football culture in the country.

     

    The ‘Indian Super League’ will also implement various football development projects aimed at holistic development of the sport in the country, including engaging with the masses to get them excited about football, encouraging families to regularly involve their children in football, creating an infrastructure to identify talented footballers at a young age and groom them into elite professionals and creating a critical mass of highly talented coaches to work at all levels of football in India.