.2 minutes read Final Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Administrative Agency of Information and Transmitting provided Reliance Industries Limited (RIL) commendation for the transactions of licenses for non-news and also present affairs television channels. As a result, the stations owned by Viacom 18 Media Pvt Ltd are going to be actually transferred to Superstar India Private Limited. This merger will proceed under the specifications stated by the Competition Commission of India (CCI).This choice is part of a tactical joint project between Reliance Industries Ltd as well as Disney. RIL stated that the authorities's approval was actually given with a purchase outdated September 27, 2024, complying with a news releases entitled "Reliance and Disney Announce Strategic Joint Project to Combine the best Powerful and Engaging Enjoyment Brands in India," initially released on February 28, 2024..The CCI accepted the Rs 70,350-crore merging between RIL and also Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Company Regulation Tribunal (NCLT) gave its own approval for the Viacom18-Star India merger on August 30. Click on this link to associate with our company on WhatsApp.
The Reliance-Disney partnership will certainly compete with Sony, Netflix, as well as Amazon, providing 120 television stations and 2 streaming companies.The merging is actually expected to be finalized in the final quarter of 2024 or even the 1st one-fourth of 2025.
1st Posted: Sep 28 2024|9:50 PM IST.