.2 minutes read through Last Upgraded: Sep 28 2024|10:01 PM IST.On Saturday, the Administrative Agency of Relevant information as well as Transmitting provided Dependence Industries Limited (RIL) approval for the transmission of licenses for non-news and present events TV channels. Consequently, the stations owned through Viacom 18 Media Pvt Ltd are going to be transferred to Superstar India Private Limited. This merger will certainly move on under the requirements set forth due to the Competitors Commission of India (CCI).This decision becomes part of a tactical shared venture between Reliance Industries Ltd and also Disney. RIL pointed out that the federal government's approval was provided through a purchase old September 27, 2024, following a news releases entitled "Reliance and Disney Announce Strategic Junction Endeavor to Unite the Most Compelling and Engaging Entertainment Brands in India," initially released on February 28, 2024..The CCI authorized the Rs 70,350-crore merging between RIL and also Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Business Law Tribunal (NCLT) offered its own approval for the Viacom18-Star India merger on August 30. Click here to connect with us on WhatsApp.
The Reliance-Disney partnership is going to take on Sony, Netflix, and also Amazon, giving 120 TV channels and also 2 streaming companies.The merger is anticipated to become finalized in the last one-fourth of 2024 or the initial one-fourth of 2025.
First Posted: Sep 28 2024|9:50 PM IST.