.2 min read through Last Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Details and Televison broadcasting provided Reliance Industries Limited (RIL) approval for the move of licenses for non-news and current undertakings TV stations. Because of this, the channels possessed by Viacom 18 Media Pvt Ltd are going to be moved to Superstar India Private Limited. This merger is going to go ahead under the terms stated by the Competitors Commission of India (CCI).This decision is part of an important shared endeavor in between Dependence Industries Ltd and also Disney.
RIL stated that the federal government’s commendation was provided with a purchase dated September 27, 2024, following a news releases entitled “Reliance and Disney Announce Strategic Joint Endeavor to Combine one of the most Powerful and Engaging Enjoyment Brands in India,” initially released on February 28, 2024..The CCI permitted the Rs 70,350-crore merging between RIL as well as Disney’s Indian media properties on August 28, 2024. The Mumbai bench of the National Provider Regulation Tribunal (NCLT) provided its own authorization for the Viacom18-Star India merger on August 30. Go here to connect with us on WhatsApp.
The Reliance-Disney partnership is going to compete with Sony, Netflix, and also Amazon.com, providing 120 television stations as well as two streaming companies.The merging is anticipated to be settled in the final one-fourth of 2024 or the first fourth of 2025. Very First Posted: Sep 28 2024|9:50 PM IST.