.2 minutes reviewed Last Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Information as well as Transmitting provided Reliance Industries Limited (RIL) approval for the transactions of licenses for non-news and also present affairs television stations. Consequently, the networks had through Viacom 18 Media Pvt Ltd will definitely be transferred to Star India Private Limited. This merger is going to proceed under the specifications set forth due to the Competition Earnings of India (CCI).This decision is part of a strategic joint project in between Dependence Industries Ltd as well as Disney. RIL pointed out that the government's approval was given via an order outdated September 27, 2024, adhering to a news releases entitled "Reliance as well as Disney Announce Strategic Joint Endeavor to Unite the absolute most Powerful and Engaging Amusement Brands in India," originally given out on February 28, 2024..The CCI approved the Rs 70,350-crore merger in between RIL and also Disney's Indian media possessions on August 28, 2024. The Mumbai bench of the National Provider Rule Tribunal (NCLT) provided its own clearance for the Viacom18-Star India merger on August 30. Go here to get in touch with our team on WhatsApp.
The Reliance-Disney partnership will definitely take on Sony, Netflix, and Amazon, providing 120 television networks and 2 streaming companies.The merger is foreseed to be finalized in the last fourth of 2024 or the initial fourth of 2025.
First Released: Sep 28 2024|9:50 PM IST.