Reliance Industries Limited, Viacom18 Media Private Limited, and The Walt Disney Company announced the completion of a merger between Viacom18’s media and JioCinema businesses with Star India Private Limited (SIPL). RIL has invested ₹11,500 crore (approximately $1.4 billion) into the joint venture (JV), valuing it at ₹70,352 crore (around $8.5 billion) on a post-money basis.