.2 min read Final Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Relevant information and Transmitting granted Dependence Industries Limited (RIL) commendation for the move of licenses for non-news as well as current events TV channels. Consequently, the networks owned through Viacom 18 Media Pvt Ltd will definitely be actually transferred to Star India Private Limited. This merging will definitely proceed under the requirements stated by the Competition Commission of India (CCI).This choice is part of a tactical shared project between Dependence Industries Ltd and also Disney. RIL mentioned that the federal government's commendation was offered via an order outdated September 27, 2024, following a news releases labelled "Dependence and Disney Announce Strategic Joint Venture to Unite one of the most Engaging and Engaging Entertainment Brands in India," actually provided on February 28, 2024..The CCI permitted 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 Provider Law Tribunal (NCLT) gave its authorization for the Viacom18-Star India merger on August 30. Visit here to get in touch with us on WhatsApp.
The Reliance-Disney alliance will definitely compete with Sony, Netflix, and also Amazon.com, providing 120 TV stations and two streaming solutions.The merger is actually anticipated to be finalised in the last quarter of 2024 or even the very first quarter of 2025.
First Posted: Sep 28 2024|9:50 PM IST.