.2 minutes checked out Final Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Relevant information and also Transmitting gave Reliance Industries Limited (RIL) commendation for the transactions of licenses for non-news and also existing affairs TV channels. Consequently, the networks owned by Viacom 18 Media Pvt Ltd are going to be actually moved to Celebrity India Private Limited. This merger will certainly go ahead under the specifications stated by the Competition Commission of India (CCI).This choice becomes part of an important shared endeavor in between Dependence Industries Ltd and also Disney. RIL mentioned that the authorities's commendation was actually provided through a purchase old September 27, 2024, adhering to a media release titled "Reliance as well as Disney Announce Strategic Junction Venture to Bring Together one of the most Compelling and also Engaging Entertainment Brands in India," actually released on February 28, 2024..The CCI authorized the Rs 70,350-crore merging in between RIL and Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Firm Rule Tribunal (NCLT) offered its authorization for the Viacom18-Star India merging on August 30. Visit here to associate with our team on WhatsApp.
The Reliance-Disney collaboration will definitely take on Sony, Netflix, and also Amazon.com, using 120 television networks and also pair of streaming solutions.The merger is prepared for to be finalised in the final quarter of 2024 or even the very first fourth of 2025.
Initial Released: Sep 28 2024|9:50 PM IST.