As per media report, the JV will house all the entertainment assets of both the companies. Sony is likely to hold 51% in the JV while TV18 will own the remaining stake. Both will create a new entity and transfer the entertainment assets to this company. The new entity will own 100% of SPNI, 51% of TV18‘s share in Viacom18 and 100% of Jio Studios, the content production arm of Reliance Jio.
The media report added the combined entity will have an 18-20% share of the TV broadcast market. It will also allow the two companies to fill-up the whitespaces like sports and regional besides consolidating presence in Hindi GEC, movie and OTT space.
Tthe combined entity will have 63 channels across genres like GEC, movie, kids, music, sports, youth and regional. It will also be home to two leading OTT platforms SonyLIV and Voot. The joint entity will also become a major player in movie production/ distribution and content creation.