.2 min reviewed Last Updated: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Info as well as Broadcasting granted Reliance Industries Limited (RIL) commendation for the transactions of licenses for non-news and existing events TV channels. Because of this, the stations possessed by Viacom 18 Media Pvt Ltd will certainly be transferred to Star India Private Limited. This merging is going to continue under the provisions stated due to the Competition Commission of India (CCI).This selection becomes part of a tactical shared endeavor between Dependence Industries Ltd and also Disney. RIL pointed out that the federal government's approval was actually offered via an order dated September 27, 2024, following a news releases titled "Reliance and Disney Announce Strategic Junction Project to Unite the absolute most Compelling and also Engaging Home Entertainment Brands in India," actually given out on February 28, 2024..The CCI approved the Rs 70,350-crore merger between RIL and Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Provider Rule Tribunal (NCLT) gave its authorization for the Viacom18-Star India merging on August 30. Go here to get in touch with our team on WhatsApp.
The Reliance-Disney collaboration will take on Sony, Netflix, and also Amazon, offering 120 television stations and pair of streaming solutions.The merging is actually expected to become finalised in the last fourth of 2024 or even the initial quarter of 2025.
First Published: Sep 28 2024|9:50 PM IST.