.2 min read through Final Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Administrative Agency of Details and also Televison broadcasting approved Reliance Industries Limited (RIL) commendation for the move of licenses for non-news and also present events television networks. As a result, the channels had by Viacom 18 Media Pvt Ltd will definitely be actually transferred to Celebrity India Private Limited. This merging will definitely go ahead under the requirements set forth by the Competitors Earnings of India (CCI).This decision belongs to a key joint project between Reliance Industries Ltd and also Disney. RIL stated that the authorities's commendation was actually offered via a purchase outdated September 27, 2024, observing a media release titled "Dependence and Disney Announce Strategic Junction Project to Bring Together the Most Convincing and Engaging Enjoyment Brands in India," actually given out on February 28, 2024..The CCI approved the Rs 70,350-crore merging in between RIL and also Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Provider Legislation Tribunal (NCLT) gave its approval for the Viacom18-Star India merger on August 30. Click on this link to connect with our team on WhatsApp.
The Reliance-Disney partnership will compete with Sony, Netflix, and Amazon.com, delivering 120 television stations and also 2 streaming services.The merger is expected to become finalised in the final fourth of 2024 or even the 1st fourth of 2025.
First Posted: Sep 28 2024|9:50 PM IST.