.2 minutes went through Last Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Information as well as Broadcasting approved Dependence Industries Limited (RIL) approval for the move of licenses for non-news and current undertakings television stations. As a result, the stations owned through Viacom 18 Media Pvt Ltd are going to be transferred to Celebrity India Private Limited. This merger will certainly move on under the stipulations set forth by the Competition Earnings of India (CCI).This decision becomes part of a tactical joint project between Dependence Industries Ltd and Disney. RIL discussed that the government's commendation was offered by means of an order dated September 27, 2024, complying with a media release titled "Dependence as well as Disney Announce Strategic Junction Project to Combine the absolute most Engaging and Engaging Home Entertainment Brands in India," originally released on February 28, 2024..The CCI permitted the Rs 70,350-crore merger in between RIL and Disney's Indian media properties 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. Visit here to connect with our team on WhatsApp.
The Reliance-Disney partnership will definitely compete with Sony, Netflix, and Amazon, using 120 television channels and also two streaming companies.The merging is actually prepared for to be finalised in the final one-fourth of 2024 or even the very first one-fourth of 2025.
First Published: Sep 28 2024|9:50 PM IST.