.2 minutes read Final Updated: Sep 28 2024|10:01 PM IST.On Saturday, the Ministry of Info as well as Televison broadcasting gave Dependence Industries Limited (RIL) approval for the move of licenses for non-news and also current events television channels. As a result, the channels possessed by Viacom 18 Media Pvt Ltd are going to be actually transferred to Star India Private Limited. This merger will certainly proceed under the terms set forth by the Competition Commission of India (CCI).This choice becomes part of a calculated joint endeavor in between Reliance Industries Ltd as well as Disney.
RIL pointed out that the government’s commendation was actually given through a purchase old September 27, 2024, following a media release labelled “Dependence and also Disney Announce Strategic Joint Venture to Bring Together the absolute most Powerful as well as Engaging Enjoyment Brands in India,” originally issued on February 28, 2024..The CCI permitted the Rs 70,350-crore merging in between RIL as well as Disney’s Indian media resources on August 28, 2024. The Mumbai bench of the National Company Regulation Tribunal (NCLT) provided its clearance for the Viacom18-Star India merging on August 30. Click here to get in touch with our team on WhatsApp.
The Reliance-Disney alliance will certainly take on Sony, Netflix, and also Amazon, delivering 120 television networks as well as 2 streaming companies.The merger is actually foreseed to be settled in the final quarter of 2024 or the first quarter of 2025. 1st Released: Sep 28 2024|9:50 PM IST.