.2 min read through Final Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Details and Broadcasting granted Dependence Industries Limited (RIL) commendation for the transactions of licenses for non-news and also current affairs television channels. Therefore, the networks possessed through Viacom 18 Media Pvt Ltd will certainly be actually moved to Celebrity India Private Limited. This merger will certainly go ahead under the specifications stated by the Competitors Commission of India (CCI).This selection becomes part of a key joint project between Reliance Industries Ltd and also Disney. RIL stated that the federal government's commendation was provided via a purchase dated September 27, 2024, complying with a news releases titled "Dependence as well as Disney Announce Strategic Junction Venture to Unite the absolute most Compelling and also Engaging Entertainment Brands in India," initially provided on February 28, 2024..The CCI permitted the Rs 70,350-crore merging between RIL and Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Company Legislation Tribunal (NCLT) provided its own clearance for the Viacom18-Star India merging on August 30. Go here to get in touch with our team on WhatsApp.
The Reliance-Disney collaboration will take on Sony, Netflix, and Amazon, delivering 120 television stations and also two streaming services.The merger is actually expected to be settled in the last quarter of 2024 or the first quarter of 2025.
1st Posted: Sep 28 2024|9:50 PM IST.