.2 min read Last Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Administrative Agency of Relevant information and Transmitting gave Reliance Industries Limited (RIL) approval for the transactions of licenses for non-news as well as present undertakings television channels. Because of this, the channels possessed by Viacom 18 Media Pvt Ltd will be actually moved to Celebrity India Private Limited. This merger will certainly continue under the specifications set forth due to the Competition Commission of India (CCI).This decision becomes part of a critical joint venture between Dependence Industries Ltd and also Disney. RIL stated that the federal government's commendation was actually given by means of a purchase dated September 27, 2024, adhering to a news releases titled "Reliance as well as Disney Announce Strategic Junction Project to Bring Together the best Compelling and also Engaging Home Entertainment Brands in India," initially released on February 28, 2024..The CCI permitted the Rs 70,350-crore merger in between RIL and also Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Business Rule Tribunal (NCLT) gave its own clearance for the Viacom18-Star India merger on August 30. Visit here to connect with us on WhatsApp.
The Reliance-Disney collaboration will definitely take on Sony, Netflix, and Amazon, providing 120 television stations and pair of streaming solutions.The merger is actually anticipated to be settled in the final one-fourth of 2024 or the 1st fourth of 2025.
1st Posted: Sep 28 2024|9:50 PM IST.