.2 minutes went through Final Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Relevant information and Broadcasting approved Reliance Industries Limited (RIL) approval for the transfer of licenses for non-news as well as present affairs TV stations. Consequently, the channels possessed by Viacom 18 Media Pvt Ltd are going to be moved to Celebrity India Private Limited. This merging will definitely continue under the requirements stated due to the Competitors Commission of India (CCI).This choice becomes part of a tactical joint project in between Reliance Industries Ltd as well as Disney.
RIL discussed that the authorities’s approval was provided with an order dated September 27, 2024, adhering to a media release labelled “Dependence and Disney Announce Strategic Joint Project to Combine the Most Compelling and also Engaging Amusement Brands in India,” actually provided on February 28, 2024..The CCI permitted the Rs 70,350-crore merger in between RIL and also Disney’s Indian media properties on August 28, 2024. The Mumbai bench of the National Business Regulation Tribunal (NCLT) provided its own authorization for the Viacom18-Star India merger on August 30. Click here to associate with our team on WhatsApp.
The Reliance-Disney collaboration is going to take on Sony, Netflix, and Amazon, giving 120 television stations as well as 2 streaming companies.The merger is actually prepared for to become finalised in the final quarter of 2024 or even the 1st one-fourth of 2025. Very First Released: Sep 28 2024|9:50 PM IST.