.2 minutes checked out Last Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Relevant information and also Transmitting granted Reliance Industries Limited (RIL) approval for the transactions of licenses for non-news and existing events television stations. Because of this, the networks possessed by Viacom 18 Media Pvt Ltd will definitely be transferred to Celebrity India Private Limited. This merger will continue under the stipulations stated due to the Competition Commission of India (CCI).This decision becomes part of a strategic joint venture in between Reliance Industries Ltd as well as Disney. RIL discussed that the authorities's approval was given by means of an order dated September 27, 2024, observing a media release labelled "Dependence and also Disney Announce Strategic Junction Endeavor to Unite the absolute most Compelling and Engaging Enjoyment Brands in India," originally issued on February 28, 2024..The CCI approved the Rs 70,350-crore merger between RIL and Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Firm Legislation Tribunal (NCLT) gave its authorization for the Viacom18-Star India merger on August 30. Click here to associate with our team on WhatsApp.
The Reliance-Disney collaboration is going to compete with Sony, Netflix, and Amazon.com, delivering 120 television stations and also two streaming companies.The merging is foreseed to be finalized in the last quarter of 2024 or the 1st fourth of 2025.
1st Posted: Sep 28 2024|9:50 PM IST.