According to reports, Nita Ambani, the founder and head of the Reliance Foundation, is expected to serve as chair of the amalgamated company of Reliance Industries and Walt Disney.
Nita Ambani, Mukesh Ambani's wife, is probably going to be named chair of the board of the company that will be established by uniting the India media holdings of Reliance Industries and Walt Disney, according to a Reuters story that cited sources.
The long-planned media merger between Reliance and Disney is almost ready to be signed. This week, an announcement is anticipated.
Disney and Reliance have inked a legally binding agreement to combine their media operations, according to a Bloomberg report from earlier this week. It said that Disney will own the remaining shares in the combined company, with the Ambani-led Reliance set to hold 61%.
But according to Reuters, Reliance is anticipated to own 51–54% of the combined company. Bodhi Tree, a joint venture between James Murdoch and Uday Shankar, will own 40% of the shares, with Disney taking the remaining 9%.
The plans may alter before the formal announcement, according to the Reuters article. Disney and Reliance did not respond to the story.
Recently, Nita Ambani resigned from the Reliance Industries board in order to devote more time to the foundation. In addition, she founded Mumbai's Nita Mukesh Ambani Cultural Centre, which is now a major hub for theater and music.
