.2 minutes checked out Final Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Ministry of Relevant information as well as Televison broadcasting granted Reliance Industries Limited (RIL) commendation for the transfer of licenses for non-news as well as existing affairs television channels. Because of this, the stations owned by Viacom 18 Media Pvt Ltd will be actually transferred to Celebrity India Private Limited. This merger will definitely continue under the requirements stated by the Competition Commission of India (CCI).This decision belongs to a key shared project between Reliance Industries Ltd as well as Disney. RIL discussed that the federal government's approval was actually given by means of an order dated September 27, 2024, complying with a media release titled "Dependence and Disney Announce Strategic Joint Project to Unite the Most Engaging and also Engaging Entertainment Brands in India," actually given out on February 28, 2024..The CCI authorized the Rs 70,350-crore merging between RIL and also Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Company Legislation Tribunal (NCLT) provided its clearance for the Viacom18-Star India merger on August 30. Click here to get in touch with us on WhatsApp.
The Reliance-Disney alliance will compete with Sony, Netflix, and also Amazon, delivering 120 television stations and also pair of streaming companies.The merging is prepared for to be finalised in the final one-fourth of 2024 or the first quarter of 2025.
Very First Published: Sep 28 2024|9:50 PM IST.