.2 min read through Last Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Details and also Transmitting granted Dependence Industries Limited (RIL) commendation for the transmission of licenses for non-news and also current undertakings TV channels. As a result, the channels owned by Viacom 18 Media Pvt Ltd will definitely be transferred to Star India Private Limited. This merger will definitely proceed under the stipulations stated by the Competition Commission of India (CCI).This decision becomes part of a critical joint endeavor between Dependence Industries Ltd and Disney. RIL discussed that the government's approval was actually provided through an order old September 27, 2024, observing a media release entitled "Reliance as well as Disney Announce Strategic Junction Project to Unite the best Compelling as well as Engaging Enjoyment Brands in India," initially issued on February 28, 2024..The CCI authorized the Rs 70,350-crore merging between RIL and also Disney's Indian media possessions on August 28, 2024. The Mumbai bench of the National Company Law 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, and also Amazon, offering 120 television channels and also 2 streaming solutions.The merging is actually expected to be finalized in the last quarter of 2024 or even the 1st one-fourth of 2025.
First Released: Sep 28 2024|9:50 PM IST.