.2 min reviewed Final Updated: Sep 28 2024|10:01 PM IST.On Saturday, the Administrative Agency of Information as well as Broadcasting gave Reliance Industries Limited (RIL) commendation for the transactions of licenses for non-news and also current affairs television stations. As a result, the stations had by Viacom 18 Media Pvt Ltd are going to be transferred to Celebrity India Private Limited. This merging will certainly go ahead under the provisions set forth due to the Competitors Commission of India (CCI).This choice is part of a strategic shared project between Reliance Industries Ltd and Disney. RIL discussed that the federal government's commendation was given via a purchase dated September 27, 2024, adhering to a media release labelled "Dependence and also Disney Announce Strategic Joint Venture to Bring Together the absolute most Convincing as well as Engaging Enjoyment Brands in India," initially given out on February 28, 2024..The CCI permitted the Rs 70,350-crore merger in between RIL and also Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Firm Rule Tribunal (NCLT) offered its own authorization for the Viacom18-Star India merging on August 30. Click here to associate with our company on WhatsApp.
The Reliance-Disney alliance will certainly compete with Sony, Netflix, and also Amazon, offering 120 television stations as well as 2 streaming solutions.The merging is actually expected to become finalized in the final quarter of 2024 or the first fourth of 2025.
1st Released: Sep 28 2024|9:50 PM IST.