.2 min read through Last Upgraded: Sep 28 2024|10:01 PM IST.On Saturday, the Ministry of Info and Televison broadcasting provided Reliance Industries Limited (RIL) approval for the transmission of licenses for non-news as well as present events TV channels. As a result, the channels possessed by Viacom 18 Media Pvt Ltd are going to be transferred to Celebrity India Private Limited. This merger will definitely go ahead under the specifications stated due to the Competitors Commission of India (CCI).This decision becomes part of a strategic shared project in between Reliance Industries Ltd as well as Disney. RIL stated that the federal government's commendation was actually provided with a purchase old September 27, 2024, adhering to a news releases titled "Reliance as well as Disney Announce Strategic Junction Endeavor to Combine the Most Convincing and also Engaging Home Entertainment Brands in India," originally issued on February 28, 2024..The CCI permitted the Rs 70,350-crore merger in between RIL and also Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Business Law Tribunal (NCLT) provided its clearance for the Viacom18-Star India merging on August 30. Go here to associate with us on WhatsApp.
The Reliance-Disney partnership is going to take on Sony, Netflix, as well as Amazon.com, supplying 120 television networks and 2 streaming solutions.The merger is anticipated to be finalized in the last fourth of 2024 or the initial fourth of 2025.
1st Posted: Sep 28 2024|9:50 PM IST.