.2 minutes read through Last Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Information and also Transmitting gave Dependence Industries Limited (RIL) approval for the transactions of licenses for non-news and current affairs television channels. Because of this, the stations possessed by Viacom 18 Media Pvt Ltd will certainly be actually moved to Celebrity India Private Limited. This merger will certainly move on under the requirements set forth due to the Competition Earnings of India (CCI).This selection is part of a key shared project in between Dependence Industries Ltd and also Disney. RIL stated that the federal government's approval was actually given through an order old September 27, 2024, observing a news releases entitled "Reliance and also Disney Announce Strategic Joint Venture to Bring Together one of the most Compelling and also Engaging Enjoyment Brands in India," initially provided on February 28, 2024..The CCI accepted 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 Firm Law Tribunal (NCLT) offered its own authorization for the Viacom18-Star India merging on August 30. Go here to connect with our team on WhatsApp.
The Reliance-Disney alliance will certainly compete with Sony, Netflix, and also Amazon, supplying 120 television channels and also 2 streaming companies.The merger is actually anticipated to be settled in the final quarter of 2024 or even the first fourth of 2025.
1st Posted: Sep 28 2024|9:50 PM IST.