Reliance and Disney have completed their landmark Indian media merger, creating an $8.5 billion entertainment powerhouse that will dominate the streaming and television markets in the world's most populous nation.

The companies said the newly formed divisions are entertainment, which houses Reliance's Colours TV channels and Disney's Star; digital, home to online streaming platforms JioCinema and Hotstar, and sports.

Disney and Reliance Industries have completed the $8.5B deal to form a media and entertainment giant in India. This brings together Reliance’s JioCinema business with Disney’s Star India, which houses Disney+ Hotstar,

India’s entertainment landscape shifted Thursday as Reliance Industries and Disney completed their long-awaited media merger, creating an Indian powerhouse valued at $8.5 billion. The deal combines Disney’s Star India with Reliance’s Viacom18 and streaming platforms JioCinema and Hotstar.

Reliance industries Limited (RIL), Viacom18, and The Walt Disney Company announced the effective merger of Viacom18’s media and JioCinema businesses with Star India, following approvals from regulatory authorities, including the NCLT Mumbai and Competition Commission of India.

Reliance Industries and Disney joint venture in India approved by regulators, creating a media powerhouse with TV channels, digital streaming, and

The joint venture will be one of the largest Media & Entertainment companies in India with pro forma combined revenue of approximately $3.1 billion.