.2 minutes read Final Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Relevant information and Broadcasting approved Dependence Industries Limited (RIL) commendation for the transactions of licenses for non-news and existing events TV networks. Because of this, the stations possessed by Viacom 18 Media Pvt Ltd will be transferred to Celebrity India Private Limited. This merger will go ahead under the stipulations stated by the Competitors Commission of India (CCI).This choice is part of a key joint venture in between Dependence Industries Ltd and Disney.
RIL mentioned that the government’s approval was given through an order old September 27, 2024, complying with a news releases entitled “Reliance as well as Disney Announce Strategic Joint Project to Bring Together one of the most Convincing as well as Engaging Enjoyment Brands in India,” originally released on February 28, 2024..The CCI accepted the Rs 70,350-crore merging in between RIL and Disney’s Indian media properties on August 28, 2024. The Mumbai bench of the National Business Legislation Tribunal (NCLT) offered its own authorization for the Viacom18-Star India merging on August 30. Visit this site to associate with our company on WhatsApp.
The Reliance-Disney partnership will definitely compete with Sony, Netflix, and also Amazon.com, supplying 120 television networks as well as 2 streaming solutions.The merger is expected to be settled in the last one-fourth of 2024 or even the first quarter of 2025. First Posted: Sep 28 2024|9:50 PM IST.