Disney teams with India’s Reliance Industries to form $8.5 billion streaming joint venture

Walt Disney Co. announced Wednesday an agreement with India’s Reliance Industries Ltd. and Viacom 18 Media Private Ltd. to form a digital-streaming and TV joint venture that will have exclusive rights to distribute Disney movies in India. The joint venture will combine the businesses of Disney’s DIS, +1.22%Star India and Viacom 18, which is partially owned by Paramount Global PARA, -1.69%.Reliance Industries 500325, -2.07%agreed to invest the equivalent of about $1.4 billion into the