.2 min read through Final Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Relevant information and Televison broadcasting gave Reliance Industries Limited (RIL) commendation for the move of licenses for non-news as well as existing events television stations. Consequently, the stations owned by Viacom 18 Media Pvt Ltd will definitely be actually transferred to Star India Private Limited. This merger will continue under the requirements set forth by the Competitors Commission of India (CCI).This decision belongs to a strategic joint venture in between Dependence Industries Ltd and also Disney. RIL stated that the government's approval was actually given by means of a purchase old September 27, 2024, following a media release labelled "Reliance as well as Disney Announce Strategic Junction Project to Combine one of the most Compelling and Engaging Home Entertainment Brands in India," initially given out on February 28, 2024..The CCI accepted the Rs 70,350-crore merger between RIL and Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Provider Legislation Tribunal (NCLT) offered its authorization for the Viacom18-Star India merging on August 30. Click here to get in touch with us on WhatsApp.
The Reliance-Disney alliance will take on Sony, Netflix, and Amazon, providing 120 TV networks as well as two streaming solutions.The merger is actually anticipated to become finalized in the last quarter of 2024 or the initial quarter of 2025.
Initial Published: Sep 28 2024|9:50 PM IST.