.2 min reviewed Last Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Administrative Agency of Information and Broadcasting approved Dependence Industries Limited (RIL) approval for the transactions of licenses for non-news and existing undertakings television channels. Therefore, the stations owned by Viacom 18 Media Pvt Ltd will certainly be transmitted to Superstar India Private Limited. This merging will certainly go ahead under the specifications set forth due to the Competitors Commission of India (CCI).This decision becomes part of a tactical shared project between Reliance Industries Ltd as well as Disney.
RIL stated that the federal government’s approval was provided via a purchase old September 27, 2024, complying with a media release entitled “Dependence and Disney Announce Strategic Junction Project to Unite the absolute most Powerful and also Engaging Home Entertainment Brands in India,” initially provided on February 28, 2024..The CCI authorized the Rs 70,350-crore merging between RIL and also Disney’s Indian media properties on August 28, 2024. The Mumbai bench of the National Provider Law Tribunal (NCLT) offered its own authorization for the Viacom18-Star India merger on August 30. Click on this link to connect with our team on WhatsApp.
The Reliance-Disney alliance will certainly take on Sony, Netflix, as well as Amazon.com, using 120 television networks and pair of streaming companies.The merger is expected to become finalized in the last one-fourth of 2024 or even the first one-fourth of 2025. First Published: Sep 28 2024|9:50 PM IST.