.2 min reviewed Last Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Administrative Agency of Relevant information and Transmitting approved Dependence Industries Limited (RIL) approval for the transfer of licenses for non-news and also existing events TV stations. Consequently, the stations had through Viacom 18 Media Pvt Ltd are going to be actually transmitted to Star India Private Limited. This merging will move on under the stipulations set forth by the Competition Earnings of India (CCI).This decision belongs to a critical joint endeavor between Dependence Industries Ltd and also Disney. RIL pointed out that the government's approval was actually provided via a purchase outdated September 27, 2024, following a media release entitled "Reliance and Disney Announce Strategic Joint Venture to Combine the Most Powerful as well as Engaging Enjoyment Brands in India," originally provided on February 28, 2024..The CCI permitted the Rs 70,350-crore merging in between RIL and Disney's Indian media possessions on August 28, 2024. The Mumbai bench of the National Company Regulation Tribunal (NCLT) provided its clearance for the Viacom18-Star India merging on August 30. Click on this link to get in touch with our team on WhatsApp.
The Reliance-Disney collaboration is going to take on Sony, Netflix, and also Amazon, delivering 120 television networks and pair of streaming services.The merging is actually foreseed to be finalised in the last one-fourth of 2024 or the first one-fourth of 2025.
Initial Published: Sep 28 2024|9:50 PM IST.