.2 min reviewed Final Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Details as well as Transmitting gave Reliance Industries Limited (RIL) commendation for the transmission of licenses for non-news and current affairs television networks. Therefore, the networks possessed through Viacom 18 Media Pvt Ltd will certainly be actually moved to Celebrity India Private Limited. This merging will definitely go ahead under the provisions set forth by the Competition Commission of India (CCI).This decision belongs to an important joint venture in between Dependence Industries Ltd and also Disney. RIL stated that the authorities's approval was offered through a purchase outdated September 27, 2024, adhering to a media release titled "Dependence and Disney Announce Strategic Joint Project to Unite the absolute most Powerful and also Engaging Amusement Brands in India," initially provided on February 28, 2024..The CCI accepted the Rs 70,350-crore merging in between RIL and also Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Company Law Tribunal (NCLT) gave its approval for the Viacom18-Star India merging on August 30. Go here to get in touch with us on WhatsApp.
The Reliance-Disney alliance is going to take on Sony, Netflix, as well as Amazon.com, delivering 120 television channels and also two streaming companies.The merging is foreseed to be finalized in the final fourth of 2024 or the very first one-fourth of 2025.
First Published: Sep 28 2024|9:50 PM IST.