.2 min read through Final Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Administrative Agency of Information and Televison broadcasting provided Dependence Industries Limited (RIL) commendation for the transactions of licenses for non-news and present undertakings TV channels. Therefore, the channels owned through Viacom 18 Media Pvt Ltd will certainly be moved to Superstar India Private Limited. This merger will definitely move on under the specifications set forth by the Competition Earnings of India (CCI).This choice belongs to a key joint venture between Dependence Industries Ltd as well as Disney.
RIL stated that the authorities’s commendation was actually offered with an order outdated September 27, 2024, complying with a news releases labelled “Dependence and also Disney Announce Strategic Junction Project to Unite the best Convincing and Engaging Entertainment Brands in India,” originally issued on February 28, 2024..The CCI authorized the Rs 70,350-crore merging in between RIL as well as Disney’s Indian media assets on August 28, 2024. The Mumbai bench of the National Firm Rule Tribunal (NCLT) provided its own clearance for the Viacom18-Star India merger on August 30. Click on this link to get in touch with us on WhatsApp.
The Reliance-Disney alliance will certainly take on Sony, Netflix, as well as Amazon, offering 120 television channels and two streaming companies.The merger is prepared for to be finalised in the last quarter of 2024 or the initial quarter of 2025. Initial Posted: Sep 28 2024|9:50 PM IST.