Disney’s Q2 FY2025 earnings report outlines the financial impact of its India joint venture with Reliance Industries. Finalized in November 2024, the deal merges Disney’s Star India and Disney+ Hotstar with select RIL media assets. RIL holds a 56% controlling stake, Disney owns 37%, and 7% is held by a third party. Disney has recorded a $300 million equity loss, mainly due to purchase accounting amortization. The joint venture reflects Disney’s strategic push into India’s media market, with future reports expected to show its longer-term impact.