.2 minutes reviewed Last Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Relevant information and also Televison broadcasting provided Reliance Industries Limited (RIL) approval for the transfer of licenses for non-news as well as present undertakings television networks. Because of this, the networks owned through Viacom 18 Media Pvt Ltd are going to be transmitted to Celebrity India Private Limited. This merger is going to move on under the specifications stated due to the Competition Commission of India (CCI).This decision belongs to a strategic joint endeavor between Dependence Industries Ltd and Disney. RIL stated that the government's approval was actually offered with a purchase outdated September 27, 2024, complying with a news releases labelled "Reliance and also Disney Announce Strategic Junction Endeavor to Unite the best Compelling and Engaging Amusement Brands in India," actually given out on February 28, 2024..The CCI permitted the Rs 70,350-crore merger in between RIL and also Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Provider Legislation Tribunal (NCLT) provided its clearance for the Viacom18-Star India merger on August 30. Visit this site to get in touch with our team on WhatsApp.
The Reliance-Disney collaboration will compete with Sony, Netflix, as well as Amazon.com, delivering 120 television stations and also 2 streaming services.The merger is actually anticipated to become finalised in the last one-fourth of 2024 or the initial one-fourth of 2025.
Initial Released: Sep 28 2024|9:50 PM IST.