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☆ Disney, Ambani’s Reliance create new India media giant with 750 million viewers
▼ + stars: | 2024-02-28 | by ( Diksha Madhok | Hanna Ziady | ) edition.cnn.com time to read: +3 min

New Delhi/London CNN —Disney is joining forces with Asia’s richest man to create a new media giant in India that says it will reach a domestic audience of more than 750 million people. Billionaire Mukesh Ambani’s Reliance Industries and Disney have combined their digital streaming platforms and 100 TV channels in the country in a joint venture worth about $8.5 billion, the companies said in a statement Wednesday. Disney (DIS) made a major push into the country in 2019, when it acquired most of 21st Century Fox, including its vast Star India network. “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,” said Disney CEO Bob Iger. Disney salvaging its Indian dreamDisney has faced multiple challenges in India, which boasts a vibrant media and entertainment sector.

Persons: Mukesh, ”, Mukesh Ambani, Nita M, Ambani, Viacom18, Bob Iger, Mouse, Weeks, JioCinema, Iger, “, Mihir Shah Organizations: London CNN, Disney, Reliance Industries, Century Fox, Star, Reliance, Indian Premier League, Warner Bros ., HBO, CNN, Media Partners Locations: New Delhi, London, India, Star India, Viacom18

☆ Sony’s $10 billion India media deal with Zee ends in ugly breakup
▼ + stars: | 2024-01-22 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —A dramatic acquisition saga in one of the world’s fastest growing media industries is headed for a bitter ending. Sony Group (SONY) has called off the merger between its India unit and Mumbai-based Zee Entertainment, the Japanese company said on Monday. Sony’s move to end talks comes at a time when Disney (DIS) and Mukesh Ambani’s Reliance Industries are discussing combining their Indian media businesses. Zee “categorically denies all the assertions … including their claims for the termination fee,” the statement added. Prime Minister Narendra Modi’s government expects the nation to soon become the world’s third largest media and entertainment market, from fifth currently.

Persons: Sony’s, Mukesh Ambani’s, Zee, Punit Goenka, Zee “, Narendra Modi’s Organizations: New, New Delhi CNN, Sony Group, SONY, Zee Entertainment, Netflix, Disney, Mukesh Ambani’s Reliance Industries, Sony, Reuters, Zee, Reliance Locations: New Delhi, India, Mumbai

☆ Indian economy regains its swagger as China stumbles
▼ + stars: | 2023-11-03 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

New Delhi CNN —India’s economy is like an elephant. India’s economy is currently worth nearly $3.5 trillion, making it the world’s fifth largest. “India’s economy is comfortably placed to grow at an annual rate of at least 6% in the coming few years,” Barclays said. But even as India’s heft is increasing, it is far from recreating the economic miracle China unleashed decades ago. It will, no doubt — though it won’t be enough to shield the world economy should China’s economy stumble badly,” they added.

Persons: Narendra Modi, ”, Eswar Prasad, Modi, Prasad, Ludovic Marin, Mukesh Ambani’s, Gautam Adani’s, Willy Shih, Frederic Neumann, Justin Feng Organizations: New, New Delhi CNN, Economic, Cornell University, International Monetary Fund, China, Barclays, IMF, ” Barclays, Hindustan Times, Modi, bonanza, Unified, Bharat, Getty, Bank, Mukesh Ambani’s Reliance Industries, Apple, Harvard Business School, HSBC Locations: New Delhi, India, Switzerland, Davos, ”, ’, China, ” New Delhi, Sewri, Mumbai Bhushan, AFP, Beijing, Washington

☆ Shein partners with Reliance in major India comeback
▼ + stars: | 2023-05-26 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Shein is plotting a major comeback in India, nearly three years after it was booted out of the country. The fast fashion giant is partnering with the retail arm of Mukesh Ambani’s Reliance Industries, a Shein spokesperson confirmed Friday. “We can confirm Shein’s partnership with Reliance Retail and have no additional comment at this time,” a Shein spokesperson said. A powerful partnerIts new partnership with Reliance Retail, which bills itself as the country’s largest retailer, could be a game-changer. Shein has said it doesn’t have any suppliers in the Xinjiang region, and it has zero tolerance for forced labor.

Persons: Hong Kong CNN — Shein, Mukesh Ambani’s, Shein, Bain, “, Sania Farooqui Organizations: Hong Kong CNN, Industries, Wall Street, Financial Times, Reliance, Reliance Retail, Burberry, Apple, US Securities and Exchange Commission Locations: Hong Kong, India, Zara, China, Singapore, ”, Washington, Xinjiang, New Delhi

☆ EU will go easy on Indian resale of Russian fuel
▼ + stars: | 2023-05-23 | by ( Shritama Bose | ) www.reuters.com time to read: +5 min

Yet, the risk of an energy inflation resurgence makes a European Union ban on Russian oil reselling a tough call. The war in Ukraine has offered India an opportunity to boost purchases of discounted Russian oil. European imports of oil derivatives jumped to 200,000 barrels per day after the EU banned Russian crude products imports on Feb. 5 from 154,000 barrels previously, according to Kpler data. And New Delhi argues oil products substantially transformed in a third country cannot be subject to EU sanctions. loadingTo avoid an open clash with India, the EU could try to target European companies buying Russian-origin refined oil.

☆ Geopolitics is shrinking India’s risk premium
▼ + stars: | 2023-05-09 | by ( Una Galani | ) www.reuters.com time to read: +7 min

They are lured by a country whose potential as an alternative investment destination to China increasingly outweighs the local challenges of doing business. India’s $3 trillion economy is forecast to grow by 6.5% this fiscal year, continuing to outpace the rest of the world. Executives and investors also see a business-friendly government that is likely to remain in power for the next half-decade. Morgan Stanley analysts and strategists expect India to become the world’s third-largest economy and stock market before the end of the decade. The India risk premium is rapidly disappearing.

☆ Gautam Adani’s woes were in banks' plain sight
▼ + stars: | 2023-02-08 | by ( Una Galani | ) www.reuters.com time to read: +9 min

MUMBAI, Feb 8 (Reuters Breakingviews) - Gautam Adani’s recent woes have vindicated persistent doubts in India about the tycoon’s rise. The Indian group dismisses those claims as a “malicious combination of selective misinformation and stale, baseless and discredited allegations”. By contrast, other big Indian groups like Mukesh Ambani’s Reliance Industries (DBKGn.DE) and those carrying the Tata name are more popular with institutional investors. Fee-hungry international banks were much less picky. Deutsche, Barclays and StanChart pocketed $57 million of the $260 million of investment banking revenue generated by the Adani group since Dealogic records began.

☆ Mukesh Ambani pulls off one shade of overseas M&A
▼ + stars: | 2022-09-19 | by ( Una Galani | ) www.reuters.com time to read: +3 min

MUMBAI, Sept 19 (Reuters Breakingviews) - Mukesh Ambani’s overseas shopping spree is so far more splash than cash. Ambani calls this the “newest growth engine” and “far more global in scope than anything Reliance has ever done before”. Earlier this month, Reliance bought a majority stake in SenseHawk, which develops software-based management tools for solar energy generation. The unknown, following the failed flutter at Boots, is where Ambani’s global ambitions stop. CONTEXT NEWSMukesh Ambani’s Reliance Industries on Sept. 5 announced an agreement to acquire a majority stake in California-based SenseHawk for $32 million.

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