.2 minutes read through Last Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Details as well as Broadcasting provided Dependence Industries Limited (RIL) approval for the transmission of licenses for non-news and current affairs TV networks. Therefore, the channels owned through Viacom 18 Media Pvt Ltd will definitely be moved to Celebrity India Private Limited. This merger is going to proceed under the terms set forth due to the Competition Earnings of India (CCI).This decision belongs to a tactical shared venture in between Dependence Industries Ltd and also Disney.
RIL mentioned that the federal government’s approval was offered by means of an order outdated September 27, 2024, adhering to a news releases labelled “Reliance as well as Disney Announce Strategic Junction Project to Unite the Most Powerful as well as Engaging Home Entertainment Brands in India,” actually released on February 28, 2024..The CCI accepted the Rs 70,350-crore merging in between RIL as well as Disney’s Indian media properties on August 28, 2024. The Mumbai bench of the National Business Regulation Tribunal (NCLT) gave its approval for the Viacom18-Star India merger on August 30. Visit here to get in touch with our company on WhatsApp.
The Reliance-Disney collaboration is going to compete with Sony, Netflix, and also Amazon.com, using 120 TV channels as well as pair of streaming companies.The merger is anticipated to be finalised in the final one-fourth of 2024 or even the very first fourth of 2025. 1st Released: Sep 28 2024|9:50 PM IST.