Reliance Industries Ltd and The Walt Disney Company have finalized an $8.5 billion merger, creating a significant joint venture in the Indian entertainment sector. The merger includes the integration of Reliance's Viacom18 and JioCinema businesses with Disney's Star India. Uday Shankar, the vice chairperson of the newly formed entity, emphasized the focus on expanding streaming services to broader segments of Indian society. The deal is expected to enhance the combined entity's market presence and influence in the competitive landscape of Indian media and entertainment.