BENGALURU -- The recent collapse of Sony's bid for Indian broadcaster Zee Entertainment has helped clear the way for billionaire Mukesh Ambani as he seeks to dominate the entertainment industry of the world's most populous country.
Ambani's Reliance Industries is negotiating a deal to merge its entertainment business with Walt Disney Company India, according to people familiar with the discussions. Reliance is slated to hold a majority stake in the merged entity, but key aspects of the transaction have yet to be concluded, they said. The value of Disney's stake is expected to be lower than it was at the time of its acquisition in 2019.
