.2 min read Last Updated: Sep 28 2024|10:01 PM IST.On Saturday, the Ministry of Info and also Transmitting approved Dependence Industries Limited (RIL) commendation for the transmission of licenses for non-news and also current affairs television stations. Consequently, the stations owned by Viacom 18 Media Pvt Ltd will definitely be actually moved to Celebrity India Private Limited. This merger is going to move on under the specifications stated due to the Competitors Commission of India (CCI).This decision belongs to an important shared endeavor between Dependence Industries Ltd and also Disney. RIL mentioned that the government's approval was offered via an order old September 27, 2024, observing a media release labelled "Reliance and also Disney Announce Strategic Junction Venture to Bring Together the absolute most Powerful as well as Engaging Home Entertainment Brands in India," actually released on February 28, 2024..The CCI authorized the Rs 70,350-crore merging in between RIL and also Disney's Indian media possessions on August 28, 2024. The Mumbai bench of the National Business Law Tribunal (NCLT) provided its authorization for the Viacom18-Star India merging on August 30. Visit here to connect with us on WhatsApp.
The Reliance-Disney partnership is going to compete with Sony, Netflix, and Amazon, giving 120 TV networks as well as two streaming companies.The merger is expected to be finalised in the final quarter of 2024 or even the first fourth of 2025.
First Published: Sep 28 2024|9:50 PM IST.