Reliance Jio, Saavn to create $1 bn music streaming platform
Reliance Industries has signed a deal to buy out music streaming service Saavn and integrate it with JioMusic to create a music streaming platform valued at over $1 billion. All three Co-founders of Saavn will continue in their leadership roles. In the deal led by Reliance Jio director Akash Ambani, approximately three-fourths of the platform will be owned by Reliance.