.2 minutes read Last Upgraded: Sep 28 2024|10:01 PM IST.On Saturday, the Ministry of Relevant information and Transmitting approved Reliance Industries Limited (RIL) commendation for the transactions of licenses for non-news as well as current undertakings TV stations. Because of this, the networks had through Viacom 18 Media Pvt Ltd will be moved to Celebrity India Private Limited. This merging will definitely continue under the requirements stated by the Competitors Commission of India (CCI).This selection becomes part of a calculated shared project between Dependence Industries Ltd and also Disney. RIL stated that the authorities's approval was offered by means of a purchase dated September 27, 2024, adhering to a media release titled "Dependence and Disney Announce Strategic Joint Project to Unite the absolute most Convincing and also Engaging Amusement Brands in India," initially released on February 28, 2024..The CCI authorized the Rs 70,350-crore merging in between RIL and Disney's Indian media possessions on August 28, 2024. The Mumbai bench of the National Company Legislation Tribunal (NCLT) provided its own clearance for the Viacom18-Star India merger on August 30. Click on this link to get in touch with us on WhatsApp.
The Reliance-Disney partnership will compete with Sony, Netflix, and also Amazon.com, offering 120 television channels and also 2 streaming solutions.The merger is actually anticipated to become finalized in the last one-fourth of 2024 or the 1st quarter of 2025.
First Published: Sep 28 2024|9:50 PM IST.