Nita Ambani, the founder and chair of Reliance Foundation, is likely to be chair the Reliance Industries and Walt Disney merging the India media assets, according to reports. Reliance and Disney are in close talks for the merger deal for months now, however, there is no official information on this yet. With this, Reliance is expected to invest $1.2 billion in the merged entity.As per sources, the binding pact to merge the media identity is already in process and Reliance is expected to hold 61 percent in the merged entity, while rest of the portion will be owned by Disney while Bodhi Tree promoter Uday Shankar could be named as the vice chairperson. Nita Ambani is also the founder of Nita Mukesh Ambani Cultural Centre (NMACC) in Mumbai which is a key venue for music and theatre. She has recently stepped down from the board of Reliance Industries to focus more on the foundation.Increasing the Grip of RelianceTogether, Reliance and Disney own 120 television stations and a streaming business. Reliances leadership in Indias $28 billion media and entertainment sector is expected to be strengthened by the merger.
