.2 minutes read Final Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Details and also Transmitting granted Reliance Industries Limited (RIL) approval for the transfer of licenses for non-news as well as existing events TV stations. Because of this, the stations possessed through Viacom 18 Media Pvt Ltd will be actually moved to Celebrity India Private Limited. This merging is going to continue under the provisions set forth due to the Competitors Commission of India (CCI).This decision belongs to a tactical joint project in between Reliance Industries Ltd as well as Disney.
RIL discussed that the authorities’s approval was actually provided by means of an order dated September 27, 2024, observing a news releases labelled “Dependence and also Disney Announce Strategic Junction Project to Combine the absolute most Powerful and Engaging Home Entertainment Brands in India,” actually issued on February 28, 2024..The CCI authorized the Rs 70,350-crore merger in between RIL as well as Disney’s Indian media assets on August 28, 2024. The Mumbai bench of the National Company Law Tribunal (NCLT) offered its own approval for the Viacom18-Star India merger on August 30. Click here to connect with our company on WhatsApp.
The Reliance-Disney collaboration will certainly take on Sony, Netflix, as well as Amazon.com, offering 120 television networks and also pair of streaming services.The merger is expected to be settled in the final fourth of 2024 or the 1st fourth of 2025. 1st Posted: Sep 28 2024|9:50 PM IST.