Disney is combining forces with Asia's richest man in a bid to solve challenges weighing down its streaming business in India, reports BBC.

The company said it was merging its Star India service with Viacom18, which is backed by Mukesh Ambani's Reliance Industries, in a deal worth $8.5bn.

The company has pledged to inject $1.4bn (£1.1bn) to help the firm grow.

Ambani, who built his fortune in the chemical and oil industries and is now worth more than $100bn according to Forbes, called it a "landmark agreement that heralds a new era in the Indian entertainment industry".

The companies said they expected the deal, which needs approval from regulators to proceed, to be completed at the end of this year or early next year.

The combined firm would boast more than 120 channels, serving some 750 million customers across the country.

bd-pratidin/GR