.2 min read Last Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Info and also Televison broadcasting gave Dependence Industries Limited (RIL) approval for the transactions of licenses for non-news and existing events TV networks. Therefore, the networks possessed by Viacom 18 Media Pvt Ltd will certainly be actually moved to Superstar India Private Limited. This merger will certainly go ahead under the provisions set forth by the Competition Earnings of India (CCI).This choice belongs to a calculated joint endeavor in between Dependence Industries Ltd and also Disney.
RIL pointed out that the authorities’s approval was provided with an order dated September 27, 2024, adhering to a media release titled “Reliance and Disney Announce Strategic Junction Endeavor to Bring Together the Most Powerful as well as Engaging Enjoyment Brands in India,” originally given out on February 28, 2024..The CCI approved the Rs 70,350-crore merger between RIL and also Disney’s Indian media properties on August 28, 2024. The Mumbai bench of the National Company Rule Tribunal (NCLT) provided its own approval for the Viacom18-Star India merger on August 30. Visit here to connect with us on WhatsApp.
The Reliance-Disney partnership is going to take on Sony, Netflix, and also Amazon.com, offering 120 TV networks as well as 2 streaming services.The merger is actually foreseed to be settled in the final one-fourth of 2024 or the very first fourth of 2025. Very First Posted: Sep 28 2024|9:50 PM IST.