.2 minutes reviewed Last Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Ministry of Information as well as Broadcasting granted Reliance Industries Limited (RIL) approval for the transactions of licenses for non-news and current affairs TV channels. Consequently, the stations had by Viacom 18 Media Pvt Ltd will certainly be actually moved to Superstar India Private Limited. This merging is going to proceed under the terms set forth by the Competitors Commission of India (CCI).This selection belongs to an important joint endeavor between Reliance Industries Ltd as well as Disney. RIL mentioned that the government's commendation was provided by means of an order old September 27, 2024, observing a news releases titled "Reliance and Disney Announce Strategic Joint Project to Combine the Most Engaging and Engaging Entertainment Brands in India," actually released on February 28, 2024..The CCI permitted the Rs 70,350-crore merging between RIL and Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Firm Rule Tribunal (NCLT) offered its authorization for the Viacom18-Star India merger on August 30. Go here to associate with our company on WhatsApp.
The Reliance-Disney partnership will compete with Sony, Netflix, as well as Amazon, offering 120 television channels and also 2 streaming services.The merger is anticipated to become finalized in the final one-fourth of 2024 or the very first quarter of 2025.
Initial Posted: Sep 28 2024|9:50 PM IST.