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JioMusic, Saavn to merge in a deal valued at over US$ 1 billion

Reliance Industries Limited (RIL) today announced that it has signed an agreement to for combination of Saavn with JioMusic. The combined entity is valued at over US$1 billion, with JioMusic’s implied valuation at US$ 670 million. "The integrated business will be developed into a media platform of the future with global reach, cross-border original content, an independent artist marketplace, consolidated data and one of the largest mobile advertising mediums," said RIL. Reliance will also...
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http://www.fonearena.com/blog/247512/jiomusic-saavn-merger-usd-1-billion.html

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