.2 minutes checked out Last Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Relevant information as well as Transmitting provided Reliance Industries Limited (RIL) commendation for the transfer of licenses for non-news and also current affairs TV networks. Because of this, the channels owned by Viacom 18 Media Pvt Ltd are going to be actually transferred to Celebrity India Private Limited. This merger is going to continue under the specifications stated due to the Competition Commission of India (CCI).This choice belongs to a calculated shared endeavor between Reliance Industries Ltd and also Disney.
RIL discussed that the government’s approval was offered with an order outdated September 27, 2024, following a media release labelled “Reliance and also Disney Announce Strategic Joint Venture to Unite one of the most Engaging and Engaging Enjoyment Brands in India,” actually released on February 28, 2024..The CCI permitted 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 Business Regulation Tribunal (NCLT) provided its own clearance for the Viacom18-Star India merger on August 30. Click here to associate with our team on WhatsApp.
The Reliance-Disney partnership will definitely take on Sony, Netflix, and also Amazon.com, supplying 120 TV channels and also pair of streaming services.The merging is actually anticipated to become finalized in the final fourth of 2024 or even the very first one-fourth of 2025. 1st Published: Sep 28 2024|9:50 PM IST.