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Reliance-Disney Merger to Result in Sale of Hungama, Super Hungama TV Channels

The Competition Commission of India (CCI) published the 48-page detailed order approving the merger of Reliance Industries Limited and The Walt Disney Company's media assets on Tuesday. The Economic Times reported on Tuesday that the order lays down various conditions such as the divestment of seven television channels that include Disney-owned Hungama and Super Hungama.

The merger will combine Reliance's JioCinema streaming service with Disney+ Hotstar.

Reliance Industries Limited will have a controlling share of 56% in the merged entity. Disney will own 37% of it while Bodhi Tree Systems will hold a 7% stake. The CCI approved the merger in August, three months after the companies filed for it. Reliance Industries stated in a regulatory filing that it expects to finalize the merger in the third quarter of this fiscal year.

The Economic Times stated that the merged entity will be "the country's largest media and entertainment firm."

The Marvel HQ television channel relaunched as Super Hungama in March 2022. Hungama TV aired shows and films from franchises such as Crayon Shin-chan, Doraemon, and Ultra B. Both channels aired shows and films from the Pokémon franchise.

Reliance's JioCinema streaming service launched its Anime Hub content slate for premium subscribers on May 12. The service currently has a larger anime catalog of the two companies with non-exclusive rights to titles such as Demon Slayer, Spy×Family, Assassination Classroom, and Mob Psycho 100.

Reliance's Jio TV began broadcasting the the Animax Asia channel in India in January 2023.

The Walt Disney Company's Disney+ Hotstar streaming service for India appointed Sajith Sivanandan as executive vice president and head of the company in October 2022. Disney+ Hotstar crossed 50 million paid subscribers in India in May 2022.

21st Century Fox launched the Hotstar streaming service in February 2015. Disney India combined the service with its Disney+ streaming service in February 2020. The company had previously appointed Sunil Rayan as the president and head in June 2020.

The service exclusively streamed the television anime adaptation of Masakazu Ishiguro's Heavenly Delusion (Tengoku Daimakyo) manga in India. It simulcasted the the television anime of Tomihiko Morimi's Tatami Time Machine Blues (Yojō-Han Time Machine Blues) novel in India and has titles such as Black Rock Shooter: Dawn Fall, the Overlord films, and Aoashi in its anime catalog.

Source: The Economic Times