.2 minutes reviewed Last Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Info and also Transmitting granted Reliance Industries Limited (RIL) approval for the transfer of licenses for non-news and also present undertakings television stations. As a result, the networks possessed by Viacom 18 Media Pvt Ltd are going to be actually transferred to Star India Private Limited. This merging will move on under the requirements set forth by the Competition Commission of India (CCI).This decision belongs to a tactical joint project in between Dependence Industries Ltd and also Disney.
RIL mentioned that the authorities’s commendation was given via an order outdated September 27, 2024, adhering to a news releases labelled “Dependence and Disney Announce Strategic Joint Endeavor to Combine one of the most Compelling and Engaging Amusement Brands in India,” actually released on February 28, 2024..The CCI accepted the Rs 70,350-crore merging in between RIL as well as Disney’s Indian media possessions on August 28, 2024. The Mumbai bench of the National Provider Legislation Tribunal (NCLT) provided its own clearance for the Viacom18-Star India merger on August 30. Visit here to associate with our team on WhatsApp.
The Reliance-Disney partnership will definitely take on Sony, Netflix, and Amazon.com, offering 120 television channels as well as 2 streaming companies.The merging is actually prepared for to become settled in the last fourth of 2024 or even the very first quarter of 2025. 1st Published: Sep 28 2024|9:50 PM IST.