.2 minutes read Final Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Info and also Transmitting granted Reliance Industries Limited (RIL) approval for the move of licenses for non-news and also present undertakings TV channels. Therefore, the stations owned through Viacom 18 Media Pvt Ltd will definitely be moved to Superstar India Private Limited. This merging is going to go ahead under the stipulations set forth due to the Competitors Earnings of India (CCI).This choice belongs to a tactical joint endeavor in between Dependence Industries Ltd as well as Disney. RIL discussed that the federal government's commendation was provided with a purchase dated September 27, 2024, observing a news releases entitled "Reliance as well as Disney Announce Strategic Junction Venture to Bring Together the best Engaging and also Engaging Home Entertainment Brands in India," actually provided on February 28, 2024..The CCI permitted the Rs 70,350-crore merger between RIL and also Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Provider Law Tribunal (NCLT) provided its own approval for the Viacom18-Star India merging on August 30. Click on this link to connect with our company on WhatsApp.
The Reliance-Disney alliance will compete with Sony, Netflix, and Amazon.com, offering 120 television stations and 2 streaming services.The merger is prepared for to be finalized in the last quarter of 2024 or the 1st fourth of 2025.
First Posted: Sep 28 2024|9:50 PM IST.