Ahead of merger with Disney, Nita and Akash Ambani join Viacom18 board
The Hindu
Nita Ambani and Akash Ambani join Viacom18 board ahead of merger with Walt Disney, creating India's largest media empire.
Reliance Foundation Chairperson Nita Ambani and Reliance Jio Infocomm Chairman Akash Ambani have joined the board of Viacom18 ahead of its merger with the India business of global media giant Walt Disney, industry sources said.
Viacom18 is the holding company that owns the media and entertainment business of billionaire Mukesh Ambani-led Reliance Industries and Bodhi Tree Systems.
The appointments came after the Star India merger, owned by Walt Disney and Viacom18, cleared the regulatory clearances from the fair trade regulator CCI and National Company Law Tribunal (NCLT).
Now both sides are in the final stages of the merger, making some adjustments in the business as per the Competition Commission of India (CCI) directions.
Besides, other people, including James Murdoch, co-promoter of Bodhi Tree Systems; Mohammed Ahmed Al-Hardan, head of technology, media, and telecom at the Qatar Investment Authority (QIA), a key investor in Bodhi Tree are joining the board after its reconstitution.
In addition, Jyoti Deshpande, president of media and content business at RIL, and Shuva Mandal, partner at Anagram Partners, have also been appointed to the Viacom 18 board.
Earlier on August 30, the NCLT had approved the scheme of merger of Viacom18 Media and Digital 18 Media, holding media and entertainment assets of Reliance Industries with Star India.
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