Reliance Industries Makes Deal with Disney

10 October 2011 - Which Way to Pay

Reliance Industries Makes Deal with Disney

The largest listed firm in India, Reliance Industries, has made a deal with Walt Disney, Indian branch, to buy content for its telecom operations. The deal is with UTV Software, a company which Disney owns the majority stake, and is hoped to be signed over the next few weeks.

Over the last few years, Reliance has branched out into financial services, telecom, hospitality sectors and retail, as well as its original dealings in oil and gas refinery and exploration. Last year saw the company buy Infotel, which won an auction to be the sole provider of secure national wireless broadband. The most recent deal is thought to allow for developments in Reliance’s telecom operations in so far as access to entertainment, games and content for children.

The company now has plans to develop its telecom business, which will aim to provide internet through a wireless broadband network to computers, as well as mobile phones, smartphones and tablets. Reliance has recently been squeezed by a diminishing gas output, and is bidding to boost other areas of the company.