.2 min read Final Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Info as well as Televison broadcasting gave Reliance Industries Limited (RIL) commendation for the move of licenses for non-news and also current undertakings television stations. Because of this, the stations had through Viacom 18 Media Pvt Ltd will certainly be transferred to Superstar India Private Limited. This merger is going to proceed under the requirements stated due to the Competition Commission of India (CCI).This selection is part of an important shared endeavor in between Dependence Industries Ltd and Disney.
RIL discussed that the federal government’s approval was provided through a purchase outdated September 27, 2024, following a media release labelled “Dependence and also Disney Announce Strategic Joint Venture to Combine the best Powerful as well as Engaging Entertainment Brands in India,” originally given out on February 28, 2024..The CCI authorized the Rs 70,350-crore merging between RIL as well as Disney’s Indian media resources on August 28, 2024. The Mumbai bench of the National Firm Regulation Tribunal (NCLT) offered its authorization for the Viacom18-Star India merging on August 30. Click here to associate with our company on WhatsApp.
The Reliance-Disney partnership will definitely take on Sony, Netflix, and also Amazon, using 120 TV channels as well as pair of streaming companies.The merger is actually expected to become finalised in the last fourth of 2024 or even the very first one-fourth of 2025. Initial Posted: Sep 28 2024|9:50 PM IST.