Mumbai, Nov. 15 -- Reliance Industries Limited (RIL), Viacom18 Media Private Limited, and The Walt Disney Company announced on Thursday the official completion of their merger, which combines Viacom18s media and JioCinema businesses with Star India Private Limited (SIPL), media reports said.

This joint venture (JV) is valued at approximately Rs 70,352 crore (~US$8.5 billion) post-money, excluding synergy benefits, reported The Economic Times.

The ownership structure of the JV stands as 16.34% by RIL, 46.82% by Viacom18, and 36.84% by Disney, with RIL retaining control.

The JVs strategic leadership will be spearheaded by Chairperson Nita M. Ambani and Vice Chairperson Uday Shankar, aiming to enhance entertainment and sports content offe...