.2 minutes reviewed Final Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Relevant information and Broadcasting gave Dependence Industries Limited (RIL) commendation for the transmission of licenses for non-news and also existing undertakings TV networks. Consequently, the networks owned through Viacom 18 Media Pvt Ltd will be moved to Star India Private Limited. This merging will proceed under the specifications set forth due to the Competitors Earnings of India (CCI).This decision becomes part of an important shared project in between Dependence Industries Ltd as well as Disney. RIL stated that the authorities's approval was offered through an order outdated September 27, 2024, complying with a media release entitled "Reliance as well as Disney Announce Strategic Junction Venture to Bring Together one of the most Engaging as well as Engaging Enjoyment Brands in India," actually provided on February 28, 2024..The CCI permitted the Rs 70,350-crore merger between RIL and Disney's Indian media properties 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 associate with us on WhatsApp.
The Reliance-Disney collaboration will take on Sony, Netflix, as well as Amazon, providing 120 television networks as well as pair of streaming services.The merger is actually expected to be finalised in the final fourth of 2024 or even the first fourth of 2025.
Initial Posted: Sep 28 2024|9:50 PM IST.