.2 min read Final Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Info as well as Televison broadcasting gave Dependence Industries Limited (RIL) approval for the transactions of licenses for non-news as well as present events television networks. Consequently, the channels owned by Viacom 18 Media Pvt Ltd will definitely be moved to Star India Private Limited. This merging will definitely continue under the provisions stated by the Competition Commission of India (CCI).This choice is part of a calculated shared venture between Dependence Industries Ltd as well as Disney.
RIL stated that the government’s commendation was provided by means of a purchase dated September 27, 2024, observing a news releases entitled “Dependence as well as Disney Announce Strategic Junction Project to Bring Together the best Compelling and also Engaging Home Entertainment Brands in India,” actually provided on February 28, 2024..The CCI approved the Rs 70,350-crore merger in between RIL and also Disney’s Indian media properties on August 28, 2024. The Mumbai bench of the National Company Rule Tribunal (NCLT) provided its own clearance for the Viacom18-Star India merger on August 30. Click here to associate with our team on WhatsApp.
The Reliance-Disney alliance is going to compete with Sony, Netflix, and also Amazon, delivering 120 television stations as well as 2 streaming companies.The merging is actually anticipated to be finalized in the last one-fourth of 2024 or even the very first fourth of 2025. First Released: Sep 28 2024|9:50 PM IST.