.2 minutes reviewed Final Upgraded: Sep 28 2024|10:01 PM IST.On Saturday, the Administrative Agency of Information and also Broadcasting granted Reliance Industries Limited (RIL) commendation for the move of licenses for non-news as well as current events TV networks. Therefore, the channels owned by Viacom 18 Media Pvt Ltd are going to be actually transmitted to Celebrity India Private Limited. This merger will go ahead under the requirements set forth by the Competitors Earnings of India (CCI).This selection becomes part of a critical joint project in between Reliance Industries Ltd as well as Disney. RIL discussed that the government's approval was actually offered by means of a purchase dated September 27, 2024, following a media release titled "Reliance and also Disney Announce Strategic Joint Endeavor to Unite the absolute most Engaging and also Engaging Amusement Brands in India," originally issued on February 28, 2024..The CCI accepted the Rs 70,350-crore merging in between RIL and Disney's Indian media possessions on August 28, 2024. The Mumbai bench of the National Company Regulation Tribunal (NCLT) offered its own authorization for the Viacom18-Star India merging on August 30. Click on this link to get in touch with our team on WhatsApp.
The Reliance-Disney collaboration will definitely compete with Sony, Netflix, and Amazon.com, providing 120 TV networks and also 2 streaming solutions.The merger is prepared for to become finalised in the final quarter of 2024 or the first fourth of 2025.
Initial Posted: Sep 28 2024|9:50 PM IST.