.2 min read through Last Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Info as well as Transmitting provided Reliance Industries Limited (RIL) commendation for the transfer of licenses for non-news and also present affairs television channels. As a result, the channels had by Viacom 18 Media Pvt Ltd will be transferred to Superstar India Private Limited. This merger will move on under the stipulations set forth due to the Competition Commission of India (CCI).This decision is part of a critical shared project between Reliance Industries Ltd as well as Disney. RIL pointed out that the federal government's commendation was actually given with an order dated September 27, 2024, complying with a media release titled "Dependence and also Disney Announce Strategic Junction Venture to Unite the absolute most Powerful and also Engaging Amusement Brands in India," originally issued on February 28, 2024..The CCI authorized the Rs 70,350-crore merger between RIL as well as Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Company Legislation Tribunal (NCLT) offered its approval for the Viacom18-Star India merging on August 30. Go here to get in touch with us on WhatsApp.
The Reliance-Disney partnership will compete with Sony, Netflix, as well as Amazon.com, supplying 120 TV networks as well as 2 streaming services.The merging is actually prepared for to become settled in the last quarter of 2024 or the first quarter of 2025.
First Released: Sep 28 2024|9:50 PM IST.