Mukesh Ambani's Reliance Industries to enter the OTT platform game

Mukesh Ambani led Reliance Industries Limited (RIL) does not seem to be keen on a deal with Sony Pictures for a stake sale and merger in Viacom 18.

author_img IANS Published :  05th October 2020 04:20 PM   |   Published :   |  05th October 2020 04:20 PM

Mukesh Ambani led Reliance Industries Limited (RIL) does not seem to be keen on a deal with Sony Pictures for a stake sale and merger in Viacom 18.

Mukesh Ambani led Reliance Industries Limited (RIL) does not seem to be keen on a deal with Sony Pictures for a stake sale and merger in Viacom 18.

According to sources, digital media and entertainment is an essential pillar of Jio's digital business strategy. Reliance plans to invest aggressively and grow the digital media business.

Sources also added that Reliance wants to retain management control over the digital operations and invest behind creating India's number 1 OTT destination as well as a broadcast platform.

Sources revealed that entertainment is central to Jio's FTTH plans in partnership and collaboration with other content and production companies.

"There is a lot of interest from content companies and production houses in partnering with Reliance and Jio, and investors are keen to back such partnerships," they added.

Earlier, there were reports that Sony is likely to own 74 per cent after a merger with Viacom 18.

As per reports, a merger of Sony Pictures Network and Viacom 18 was being discussed.

Viacom 18 is a 51:49 JV between Reliance owned Network 18 and Viacom. There had been a buzz about the deal for some months now.

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