.2 min checked out Last Upgraded: Sep 28 2024|10:01 PM IST.On Saturday, the Administrative Agency of Information and Televison broadcasting granted Dependence Industries Limited (RIL) approval for the transactions of licenses for non-news as well as existing affairs TV channels. Because of this, the channels possessed through Viacom 18 Media Pvt Ltd are going to be actually transmitted to Celebrity India Private Limited. This merging will definitely proceed under the terms set forth by the Competition Earnings of India (CCI).This decision belongs to a key shared project in between Reliance Industries Ltd as well as Disney. RIL discussed that the authorities's approval was provided through an order old September 27, 2024, observing a media release labelled "Reliance as well as Disney Announce Strategic Joint Venture to Combine one of the most Compelling as well as Engaging Entertainment Brands in India," actually provided on February 28, 2024..The CCI accepted the Rs 70,350-crore merger in between RIL and also Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Company Law Tribunal (NCLT) gave its own authorization for the Viacom18-Star India merging on August 30. Click here to associate with our company on WhatsApp.
The Reliance-Disney alliance will certainly take on Sony, Netflix, as well as Amazon, delivering 120 TV networks as well as 2 streaming companies.The merging is actually foreseed to be settled in the last one-fourth of 2024 or the initial one-fourth of 2025.
1st Published: Sep 28 2024|9:50 PM IST.