.2 min went through Last Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Administrative Agency of Details and Transmitting approved Dependence Industries Limited (RIL) commendation for the move of licenses for non-news as well as current undertakings TV networks. Therefore, the stations possessed through Viacom 18 Media Pvt Ltd will be moved to Celebrity India Private Limited. This merger will go ahead under the provisions set forth by the Competitors Commission of India (CCI).This selection belongs to a key joint project between Reliance Industries Ltd and also Disney. RIL stated that the federal government's approval was given by means of a purchase dated September 27, 2024, complying with a news releases labelled "Dependence as well as Disney Announce Strategic Junction Endeavor to Unite the Most Powerful and Engaging Home Entertainment Brands in India," initially provided on February 28, 2024..The CCI approved the Rs 70,350-crore merger in between RIL as well as Disney's Indian media possessions on August 28, 2024. The Mumbai bench of the National Firm Rule Tribunal (NCLT) offered its clearance for the Viacom18-Star India merging on August 30. Visit here to associate with our team on WhatsApp.
The Reliance-Disney collaboration will compete with Sony, Netflix, and also Amazon, providing 120 TV channels and 2 streaming services.The merging is actually prepared for to become finalized in the last fourth of 2024 or the very first quarter of 2025.
Initial Published: Sep 28 2024|9:50 PM IST.