Reliance, Disney drafting term sheet to merge their India operations
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Reliance Industries Ltd. (RIL) and Walt Disney Co. are in talks to merge their media and entertainment operations in India. This might make RIL the majority stakeholder in the country's largest media and entertainment business. The proposed merger would involve creating a subsidiary of RIL's Viacom18, which would then absorb Star India through a stock swap, with Reliance holding at least 51% of the merged company.