Shardul Amarchand Mangaldas advised Reliance Industries and Viacom18 in $8.5 Billion Disney Joint Venture
Shardul Amarchand Mangaldas & Co. played a pivotal role in advising Reliance Industries Limited (RIL) and Viacom18 Media Private Limited (Viacom18) on their strategic joint venture with The Walt Disney Company (Disney). This landmark deal, including an investment of INR 11,500 Crores by Reliance Industries Limited. Valued at USD 8.5 billion, combines the businesses of Viacom18 and Star India, reshaping the Indian media and entertainment landscape.
The joint venture aims to create a formidable force in the Indian entertainment industry, offering comprehensive and high-quality content across television and digital platforms. With a projected reach of over 750 million viewers in India and catering to the global Indian diaspora, this collaboration promises to deliver a diverse array of programming and experiences for Indian audiences.
RIL, India’s largest private sector company, brings its vast resources and experience to the partnership. Viacom18, known for its iconic brands and diverse programming, is a leader in Indian entertainment. Disney, a global entertainment giant, contributes its rich content portfolio and international reach to the venture.
Shardul Amarchand Mangaldas & Co. played a crucial role in the success of this complex transaction. The core transaction team included Pallavi Shroff (Managing Partner); Iqbal Khan, Puja Sondhi, Shivangi Sharma Talwar, and Shashank Mishra (Partners); Pooja Thomas (Principal Associate); Ashid Basheer and Akshi Rastogi (Principal Associates).
The firm’s team comprised experts across various legal practices, including:
Competition Law: Pallavi Shroff (Managing Partner); Shweta Shroff Chopra, Harman Singh Sandhu, Aman Singh Sethi (Partners); Atreyee Sarkar (Principal Associate); Rahul Shukla (Senior Associate); Sanjana L.B., Anik Bhaduri, Aryika Dadhwal, Mohsin Rahim, and Janhavi Singh (Associates).
General Corporate: Eshika Maji (Senior Associate); Prerna Saroha, Aishwarya Srivastava, Chirag Mangal, Nidhi Gupta, Pratim Majumder, Kanika Mittal, Akshita Jain, Jayesh Borele, Shreya Mukherjee, and Subham Biswal (Associates).
Regulatory: Parv Kaushik, Ritika Bansal, and Vedika Rathore (Associates).
Litigation: Vaibhav Singh (Partner); Shreya Jain (Principal Associate); Jyotsna Vilva, Manas Kotak, and Ojasvi Shankar (Associates).
Real Estate: Rohit Bajaj (Partner); Shridha Malhotra (Principal Associate).
Employment: Kriti Kaushik (Partner); Istuti Kapoor, Lijin Varughese, and Shalini Prem (Associates).
Insurance: Ashish Teni (Partner); Riddhi Misra (Senior Associate).
Intellectual Property: Mukul Baveja (Partner); Garima Tripathi, Abhineet Kalia, and Dhruv Grover (Associates).
Data Protection: Shahana Chatterji (Partner); Punya Varma (Principal Associate); Veda Handa (Senior Associate); Rahul Rajasekar (Associate).
This comprehensive legal support ensured a smooth and successful deal for all parties involved. The joint venture marks a significant step forward for the Indian media and entertainment industry, positioning the JV as a leading platform for entertainment and sports content, and offering Indian viewers an unparalleled experience.