.2 min checked out Last Upgraded: Sep 28 2024|10:01 PM IST.On Saturday, the Administrative Agency of Relevant information as well as Televison broadcasting gave Dependence Industries Limited (RIL) commendation for the transactions of licenses for non-news and present affairs television networks. As a result, the networks possessed by Viacom 18 Media Pvt Ltd will definitely be moved to Celebrity India Private Limited. This merger is going to continue under the provisions stated by the Competitors Commission of India (CCI).This selection is part of a tactical joint venture between Reliance Industries Ltd and also Disney.
RIL stated that the authorities’s commendation was offered via an order outdated September 27, 2024, following a media release labelled “Dependence as well as Disney Announce Strategic Junction Endeavor to Combine the best Compelling and Engaging Amusement Brands in India,” actually released on February 28, 2024..The CCI authorized the Rs 70,350-crore merger in between RIL and Disney’s Indian media assets on August 28, 2024. The Mumbai bench of the National Business Regulation Tribunal (NCLT) gave its authorization for the Viacom18-Star India merging on August 30. Go here to get in touch with our team on WhatsApp.
The Reliance-Disney alliance will take on Sony, Netflix, and Amazon, supplying 120 television channels and pair of streaming solutions.The merging is prepared for to be settled in the last fourth of 2024 or even the 1st quarter of 2025. Very First Published: Sep 28 2024|9:50 PM IST.