Nita Ambani, wife of Indian billionaire Mukesh Ambani, is set to lead the merged media entity formed by Reliance Industries and Walt Disney in India, according to informed sources. This news comes as the official announcement of the much-anticipated deal is expected by Wednesday.

The merger will combine the media assets of both companies, solidifying Reliance's hold on the $28 billion Indian media and entertainment market. Nita Ambani, who recently stepped down from the Reliance Industries board, is seen as a fitting choice due to her extensive experience and public profile.

This strategic move will create a dominant force in the Indian media landscape. The combined entity will control over 120 television channels and possess both companies' streaming services, significantly enhancing Reliance's position. Notably, Disney's Indian operations will be valued at $3.5 billion, significantly lower than earlier estimates. Additionally, a joint venture led by media veterans James Murdoch and Uday Shankar will hold a 9% stake in the merged entity.

With Nita Ambani at the helm and Reliance's strong market presence, the merged entity is poised to be a major player in shaping India's media future. However, the success of this new venture in the face of fierce competition remains to be seen.