.2 min read through Last Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Relevant information and also Broadcasting gave Dependence Industries Limited (RIL) approval for the transfer of licenses for non-news as well as present events television channels. Therefore, the stations possessed through Viacom 18 Media Pvt Ltd will certainly be moved to Superstar India Private Limited. This merger will certainly proceed under the specifications set forth due to the Competition Earnings of India (CCI).This decision belongs to a strategic joint endeavor in between Dependence Industries Ltd as well as Disney. RIL mentioned that the federal government's commendation was given via a purchase old September 27, 2024, adhering to a news releases entitled "Dependence and also Disney Announce Strategic Joint Venture to Combine the Most Convincing and also Engaging Entertainment Brands in India," originally provided on February 28, 2024..The CCI approved the Rs 70,350-crore merger between RIL as well as Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Firm Law Tribunal (NCLT) gave its own approval for the Viacom18-Star India merging on August 30. Click here to connect with our company on WhatsApp.
The Reliance-Disney partnership is going to compete with Sony, Netflix, and Amazon, delivering 120 television stations and also two streaming solutions.The merging is expected to become settled in the final quarter of 2024 or even the very first one-fourth of 2025.
Very First Released: Sep 28 2024|9:50 PM IST.