.2 minutes read through Final Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Relevant information and Broadcasting gave Reliance Industries Limited (RIL) approval for the transactions of licenses for non-news and current events television channels. Therefore, the stations possessed through Viacom 18 Media Pvt Ltd will certainly be actually moved to Celebrity India Private Limited. This merger is going to continue under the provisions set forth due to the Competitors Earnings of India (CCI).This selection belongs to a critical shared venture in between Reliance Industries Ltd and Disney. RIL stated that the government's approval was actually given through an order outdated September 27, 2024, following a media release titled "Dependence and Disney Announce Strategic Joint Project to Unite the best Compelling and Engaging Amusement Brands in India," initially issued on February 28, 2024..The CCI permitted the Rs 70,350-crore merger between RIL as well as Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Firm Legislation Tribunal (NCLT) offered its own approval for the Viacom18-Star India merger on August 30. Visit this site to get in touch with us on WhatsApp.
The Reliance-Disney collaboration will certainly take on Sony, Netflix, and also Amazon.com, using 120 TV stations and two streaming solutions.The merger is expected to become finalized in the last quarter of 2024 or the very first one-fourth of 2025.
Initial Published: Sep 28 2024|9:50 PM IST.