.2 min read Last Upgraded: Sep 28 2024|10:01 PM IST.On Saturday, the Ministry of Relevant information and Televison broadcasting provided Reliance Industries Limited (RIL) approval for the transfer of licenses for non-news and existing undertakings television stations. Therefore, the stations possessed through Viacom 18 Media Pvt Ltd will be actually moved to Celebrity India Private Limited. This merger is going to go ahead under the specifications stated by the Competition Commission of India (CCI).This decision becomes part of a strategic shared project in between Dependence Industries Ltd as well as Disney. RIL pointed out that the federal government's approval was actually provided via a purchase outdated September 27, 2024, observing a news releases titled "Dependence as well as Disney Announce Strategic Joint Endeavor to Bring Together the best Engaging and also Engaging Amusement Brands in India," initially provided on February 28, 2024..The CCI permitted the Rs 70,350-crore merger between RIL as well as Disney's Indian media properties on August 28, 2024. The Mumbai bench of the National Provider Legislation Tribunal (NCLT) offered its own clearance for the Viacom18-Star India merging on August 30. Click on this link to associate with us on WhatsApp.
The Reliance-Disney partnership will definitely take on Sony, Netflix, and Amazon, delivering 120 TV networks as well as two streaming companies.The merging is actually prepared for to become finalised in the final one-fourth of 2024 or even the first fourth of 2025.
Initial Posted: Sep 28 2024|9:50 PM IST.