.2 minutes checked out Last Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Relevant information and Transmitting approved Dependence Industries Limited (RIL) commendation for the transfer of licenses for non-news and also existing affairs television channels. As a result, the channels possessed by Viacom 18 Media Pvt Ltd are going to be actually transferred to Celebrity India Private Limited. This merger will definitely proceed under the requirements stated due to the Competition Earnings of India (CCI).This decision becomes part of a strategic joint venture between Reliance Industries Ltd and Disney.
RIL stated that the federal government’s approval was actually provided with an order outdated September 27, 2024, complying with a media release entitled “Reliance as well as Disney Announce Strategic Joint Venture to Combine one of the most Powerful and Engaging Amusement Brands in India,” initially provided on February 28, 2024..The CCI accepted the Rs 70,350-crore merger between RIL as well as Disney’s Indian media possessions on August 28, 2024. The Mumbai bench of the National Firm Regulation Tribunal (NCLT) gave its own authorization for the Viacom18-Star India merging on August 30. Click here to connect with our company on WhatsApp.
The Reliance-Disney alliance will take on Sony, Netflix, and also Amazon, providing 120 TV stations and 2 streaming companies.The merging is expected to become finalized in the final quarter of 2024 or the first fourth of 2025. Initial Published: Sep 28 2024|9:50 PM IST.