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Saavn and JioMusic merge to form India’s largest music streamer
Reliance Industries Limited (RIL) has agreed to buy out music streaming platform Saavn and merge it with its own digital music service JioMusic to form India’s largest music streamer. The $104 million in cash and remainder in stock deal for Saavn will value the combined streaming entity at about US $1 bn with RIL holding roughly three quarters of the merged entity. Reliance plans to invest up to $100 million of which $20 million will be […]