.2 minutes reviewed Last Upgraded: Sep 28 2024|10:01 PM IST.On Saturday, the Administrative Agency of Details and also Televison broadcasting provided Dependence Industries Limited (RIL) commendation for the transactions of licenses for non-news and also current undertakings TV channels. Consequently, the channels possessed through Viacom 18 Media Pvt Ltd will definitely be actually transferred to Celebrity India Private Limited. This merger will go ahead under the provisions set forth due to the Competition Earnings of India (CCI).This selection becomes part of a key joint venture between Dependence Industries Ltd and Disney. RIL pointed out that the federal government's commendation was provided through a purchase dated September 27, 2024, adhering to a media release labelled "Reliance and also Disney Announce Strategic Joint Endeavor to Bring Together the Most Compelling and also Engaging Home Entertainment Brands in India," originally released on February 28, 2024..The CCI authorized the Rs 70,350-crore merging between RIL as well as Disney's Indian media properties on August 28, 2024. The Mumbai bench of the National Company Rule Tribunal (NCLT) offered its own approval for the Viacom18-Star India merging on August 30. Visit this site to associate with us on WhatsApp.
The Reliance-Disney partnership will certainly take on Sony, Netflix, and also Amazon.com, offering 120 television stations and also 2 streaming companies.The merger is actually expected to become settled in the final quarter of 2024 or even the initial one-fourth of 2025.
1st Posted: Sep 28 2024|9:50 PM IST.