.2 minutes checked out Last Updated: Sep 28 2024|10:01 PM IST.On Saturday, the Administrative Agency of Info and Transmitting gave Reliance Industries Limited (RIL) commendation for the transfer of licenses for non-news and present affairs television channels. Because of this, the stations owned by Viacom 18 Media Pvt Ltd will definitely be actually transmitted to Superstar India Private Limited. This merging will go ahead under the requirements set forth due to the Competitors Earnings of India (CCI).This selection is part of a strategic shared venture between Dependence Industries Ltd and also Disney. RIL mentioned that the authorities's commendation was actually given by means of an order outdated September 27, 2024, observing a news releases labelled "Reliance and also Disney Announce Strategic Junction Endeavor to Unite the Most Powerful and Engaging Amusement Brands in India," initially released on February 28, 2024..The CCI accepted 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 Company Rule Tribunal (NCLT) provided its own clearance for the Viacom18-Star India merging on August 30. Visit here to connect with our team on WhatsApp.
The Reliance-Disney collaboration is going to compete with Sony, Netflix, and also Amazon.com, giving 120 TV networks as well as two streaming companies.The merging is actually foreseed to become finalized in the final fourth of 2024 or the first one-fourth of 2025.
First Posted: Sep 28 2024|9:50 PM IST.