Reliance and Disney Kick Off Antitrust Examination for India Media Merger

Navigating Regulatory Frontiers: Reliance and Disney Forge Ahead in Antitrust Scrutiny for Media Merger


In a significant development in the Indian media and entertainment sector, Mukesh Ambani-led Reliance Industries and the globally renowned Walt Disney, listed on the New York Stock Exchange, have taken a crucial step forward in their proposed merger. The companies have reportedly initiated antitrust due diligence, signaling their commitment to navigating the regulatory landscape for a seamless integration.

Law Firm Engagements:

Reliance has strategically partnered with prominent Indian law firms, Khaitan & Co and Shardul Amarchand Mangaldas, to navigate the legal intricacies of the merger. On the other side, Disney has enlisted the expertise of AZB & Partners, underlining the seriousness of both parties in ensuring a robust and compliant merger process.


Non-Binding Term Sheet:

In a move preceding the current developments, Reliance and Disney reportedly inked a non-binding term sheet last month during discussions held in London. This preliminary agreement set the stage for a more comprehensive collaboration and laid the groundwork for the ongoing antitrust review.

Antitrust Examination Progress:

According to sources close to the matter, the antitrust review of the Reliance-Disney merger is still in its initial stages. The engagement of top-tier law firms is a strategic move by both companies to ensure compliance with antitrust regulations and to address any potential concerns that may arise during the examination process.

Implications for the Indian Media Landscape:

The proposed merger between Reliance and Disney holds significant implications for the Indian media and entertainment landscape. Combining the strengths of these two industry giants could lead to the creation of a powerhouse capable of reshaping the dynamics of the sector and offering consumers a diverse and compelling content portfolio.


As Reliance Industries and Walt Disney embark on this transformative journey towards a merger in the Indian media and entertainment sector, the engagement of reputable law firms and the initiation of antitrust due diligence underscore their commitment to a transparent and lawful integration process. The evolving landscape of the industry awaits the outcome of this collaboration, which has the potential to redefine the future of media in India.

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