.2 min reviewed Last Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Information and also Televison broadcasting gave Dependence Industries Limited (RIL) commendation for the move of licenses for non-news and existing undertakings TV networks. Therefore, the channels owned through Viacom 18 Media Pvt Ltd will certainly be transferred to Star India Private Limited. This merging will certainly proceed under the specifications stated by the Competition Commission of India (CCI).This selection is part of a critical shared endeavor between Dependence Industries Ltd as well as Disney. RIL stated that the authorities's commendation was actually provided through a purchase outdated September 27, 2024, observing a media release labelled "Dependence and Disney Announce Strategic Junction Project to Bring Together the absolute most Compelling and also Engaging Home Entertainment Brands in India," initially given out on February 28, 2024..The CCI authorized the Rs 70,350-crore merger between RIL as well as Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Business Law Tribunal (NCLT) gave its own clearance for the Viacom18-Star India merger on August 30. Click on this link to associate with us on WhatsApp.
The Reliance-Disney partnership is going to take on Sony, Netflix, as well as Amazon.com, offering 120 TV stations and also two streaming companies.The merging is foreseed to become finalized in the last one-fourth of 2024 or even the initial quarter of 2025.
First Published: Sep 28 2024|9:50 PM IST.