NEW DELHI, Dec 13 (Reuters) – Billionaire Mukesh Ambani’s Reliance Industries (RELI.NS) and U.S. large Walt Disney (DIS.N) are discussing a plan to carry next-stage talks about their India media enterprise merger in London subsequent week, two folks conversant in the matter stated.

Disney and Reliance have held talks to merge their India companies by forming a three way partnership firm through which Ambani’s media unit would maintain a majority stake, although finer particulars of enterprise buildings and valuations are but to be mentioned.

Next week, senior Disney executives and Reliance officers from its headquarters in Mumbai are more likely to fly to London for the proposed assembly, stated the 2 sources, declining to be named because the talks are non-public.

Reliance and Disney didn’t instantly reply to a request for remark.

A doable merger would create certainly one of India’s greatest leisure empires, setting it in competitors with TV gamers like Zee Entertainment (ZEE.NS) and Sony (6758.T) and streaming giants corresponding to Netflix (NFLX.O) and Amazon (AMZN.O) Prime.

The assembly being deliberate is for agreeing on a “broad roadmap” going forward and “not for signing” a deal, stated the primary supply.

The second supply stated the assembly would intention to debate the contours of the transaction and it was not but sure if any paperwork between the 2 sides can be signed. The individual added the ultimate plan for the assembly was nonetheless being labored out.

Ambani’s Reliance runs many TV channels and the JioCinema streaming app by its media and leisure unit Viacom18. Ambani has been locked in a fierce battle with Disney by providing free streaming of the Indian Premier League cricket event, whose digital rights had been as soon as with Disney in India.

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