Reliance Jio acquires Saavn, creates $1-billion music entity
![Reliance Jio acquires Saavn, creates $1-billion music entity Reliance Jio acquires Saavn, creates $1-billion music entity](https://www.indoamerican-news.com/wp-content/themes/city-desk/timthumb.php?src=https%3A%2F%2Fwww.indoamerican-news.com%2Fwp-content%2Fuploads%2F2018%2F03%2FReliance-Jio.jpg&q=90&w=160&h=106&zc=1)
Reliance Industries (RIL) on Friday announced a strategic merger of its digital music service JioMusic with music over-the-top platform Saavn which will see RIL acquiring a 75-80 per cent stake in the merged entity. The company said that the combined entity is valued at over $1 billion, with JioMusic’s implied valuation at $670 million. “The […]