The Walt Disney Company (NYSE:DIS) and Reliance Industries Limited (NSEI:RELIANCE), led by Asia?s richest tycoon Mukesh Ambani, are expected to sign a non-binding pact as early as December 18, 2023 to merge their media operations in India in a cash-and-stock deal, according to people familiar with the matter. Ambani?s retail-to-refining conglomerate will infuse money to hold at least 51% of the merged entity if the deal goes through, the people said, asking not to be named as the information is not public.