.2 min reviewed Final Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Info and also Transmitting provided Dependence Industries Limited (RIL) commendation for the transactions of licenses for non-news and also present events television channels. Consequently, the stations owned through Viacom 18 Media Pvt Ltd will definitely be actually moved to Star India Private Limited. This merger is going to proceed under the terms stated due to the Competition Earnings of India (CCI).This decision becomes part of an important joint endeavor between Reliance Industries Ltd and also Disney. RIL pointed out that the federal government's commendation was given by means of an order old September 27, 2024, complying with a news releases entitled "Reliance and Disney Announce Strategic Joint Endeavor to Unite the best Engaging as well as Engaging Entertainment Brands in India," initially issued on February 28, 2024..The CCI accepted the Rs 70,350-crore merging between RIL as well as Disney's Indian media properties on August 28, 2024. The Mumbai bench of the National Company Law Tribunal (NCLT) gave its clearance for the Viacom18-Star India merger on August 30. Click here to associate with our company on WhatsApp.
The Reliance-Disney collaboration will definitely take on Sony, Netflix, and also Amazon, delivering 120 television channels and 2 streaming solutions.The merging is prepared for to be finalized in the last fourth of 2024 or even the very first fourth of 2025.
Initial Published: Sep 28 2024|9:50 PM IST.