.2 minutes read Last Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Info and also Televison broadcasting approved Reliance Industries Limited (RIL) commendation for the transfer of licenses for non-news and existing undertakings TV networks. As a result, the stations possessed by Viacom 18 Media Pvt Ltd are going to be transferred to Superstar India Private Limited. This merger will certainly move on under the provisions stated by the Competition Commission of India (CCI).This decision is part of a tactical shared venture in between Dependence Industries Ltd as well as Disney. RIL discussed that the authorities's approval was actually offered through an order old September 27, 2024, following a media release entitled "Dependence and Disney Announce Strategic Joint Project to Unite the Most Convincing and Engaging Enjoyment Brands in India," actually released on February 28, 2024..The CCI permitted the Rs 70,350-crore merging in between RIL and also Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Business Law Tribunal (NCLT) provided its clearance for the Viacom18-Star India merging on August 30. Visit here to associate with our company on WhatsApp.
The Reliance-Disney partnership is going to take on Sony, Netflix, and also Amazon.com, giving 120 TV channels and two streaming solutions.The merging is anticipated to be finalised in the last one-fourth of 2024 or even the very first one-fourth of 2025.
Very First Posted: Sep 28 2024|9:50 PM IST.