.2 min read Last Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Ministry of Info and also Transmitting approved Dependence Industries Limited (RIL) commendation for the transfer of licenses for non-news as well as current affairs TV networks. Therefore, the networks possessed through Viacom 18 Media Pvt Ltd will definitely be moved to Star India Private Limited. This merger is going to continue under the requirements set forth by the Competitors Commission of India (CCI).This selection is part of a critical joint endeavor between Dependence Industries Ltd and Disney. RIL mentioned that the government's approval was provided through an order dated September 27, 2024, adhering to a media release titled "Dependence as well as Disney Announce Strategic Joint Venture to Unite the best Convincing and also Engaging Home Entertainment Brands in India," originally provided on February 28, 2024..The CCI permitted the Rs 70,350-crore merger in between RIL and also Disney's Indian media possessions on August 28, 2024. The Mumbai bench of the National Firm Legislation Tribunal (NCLT) offered its own authorization for the Viacom18-Star India merger on August 30. Click on this link to connect with us on WhatsApp.
The Reliance-Disney collaboration will take on Sony, Netflix, and also Amazon, offering 120 television channels and pair of streaming solutions.The merger is actually expected to be settled in the last quarter of 2024 or even the very first one-fourth of 2025.
1st Published: Sep 28 2024|9:50 PM IST.