.2 min reviewed Last Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Information and Televison broadcasting approved Dependence Industries Limited (RIL) approval for the move of licenses for non-news and present undertakings TV stations. Therefore, the stations owned by Viacom 18 Media Pvt Ltd will definitely be actually transmitted to Superstar India Private Limited. This merger will go ahead under the requirements stated by the Competition Commission of India (CCI).This selection is part of a strategic joint project between Reliance Industries Ltd and also Disney. RIL discussed that the government's approval was actually provided via an order dated September 27, 2024, complying with a news releases titled "Dependence and also Disney Announce Strategic Junction Project to Combine one of the most Convincing and also Engaging Home Entertainment Brands in India," originally given out on February 28, 2024..The CCI permitted the Rs 70,350-crore merger in between RIL and Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Provider Legislation Tribunal (NCLT) offered its own clearance for the Viacom18-Star India merger on August 30. Click here to get in touch with us on WhatsApp.
The Reliance-Disney partnership will definitely compete with Sony, Netflix, as well as Amazon.com, offering 120 TV channels as well as pair of streaming solutions.The merging is expected to become finalised in the last fourth of 2024 or the very first quarter of 2025.
Very First Posted: Sep 28 2024|9:50 PM IST.