.2 minutes reviewed Last Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Info as well as Televison broadcasting gave Reliance Industries Limited (RIL) commendation for the transactions of licenses for non-news and existing events TV stations. As a result, the stations possessed by Viacom 18 Media Pvt Ltd will certainly be moved to Superstar India Private Limited. This merger will proceed under the requirements set forth by the Competition Commission of India (CCI).This selection belongs to a critical joint venture in between Reliance Industries Ltd and also Disney. RIL pointed out that the government's approval was actually provided by means of an order dated September 27, 2024, following a media release titled "Dependence and also Disney Announce Strategic Joint Project to Combine the Most Engaging and also Engaging Amusement Brands in India," originally given out on February 28, 2024..The CCI permitted the Rs 70,350-crore merging in between RIL and Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Company Regulation Tribunal (NCLT) offered its own clearance for the Viacom18-Star India merger on August 30. Visit here to get in touch with our company on WhatsApp.
The Reliance-Disney collaboration will definitely compete with Sony, Netflix, and also Amazon, supplying 120 TV networks and two streaming services.The merger is actually foreseed to become finalised in the final fourth of 2024 or the very first one-fourth of 2025.
Very First Posted: Sep 28 2024|9:50 PM IST.