.2 min read Last Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Information as well as Televison broadcasting gave Dependence Industries Limited (RIL) approval for the move of licenses for non-news and existing undertakings TV networks. Consequently, the channels owned through Viacom 18 Media Pvt Ltd will certainly be actually transmitted to Celebrity India Private Limited. This merger will certainly proceed under the stipulations stated due to the Competitors Commission of India (CCI).This choice becomes part of a tactical shared project in between Reliance Industries Ltd and also Disney. RIL discussed that the government's approval was actually provided via a purchase dated September 27, 2024, adhering to a news releases titled "Reliance and Disney Announce Strategic Joint Endeavor to Bring Together the best Convincing as well as Engaging Home Entertainment Brands in India," originally provided on February 28, 2024..The CCI approved the Rs 70,350-crore merging between RIL and Disney's Indian media properties on August 28, 2024. The Mumbai bench of the National Firm Legislation Tribunal (NCLT) provided its authorization for the Viacom18-Star India merging on August 30. Click on this link to associate with us on WhatsApp.
The Reliance-Disney alliance will certainly take on Sony, Netflix, and Amazon, giving 120 TV channels and pair of streaming companies.The merging is foreseed to be finalized in the final fourth of 2024 or the initial fourth of 2025.
Very First Published: Sep 28 2024|9:50 PM IST.