Reliance, Disney to consolidate media operations in India

Reliance Industries is reported to have signed a non-binding agreement with Walt Disney Company for merger of their media operations in India. The idea is to create a joint venture with RIL holding a majority 51 per cent stake. A combination of the media operations of Reliance and Disney would result in the creation of the country's largest media company that would compete with the likes of Sony, Zee Entertainment etc.