.2 min read through Last Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Info and Transmitting gave Dependence Industries Limited (RIL) approval for the transfer of licenses for non-news and also present undertakings television networks. Consequently, the networks possessed by Viacom 18 Media Pvt Ltd will certainly be actually transmitted to Superstar India Private Limited. This merging is going to move on under the terms stated by the Competition Commission of India (CCI).This choice is part of a critical shared project between Reliance Industries Ltd and Disney. RIL pointed out that the authorities's approval was actually given via a purchase dated September 27, 2024, following a news releases labelled "Dependence and also Disney Announce Strategic Junction Venture to Bring Together the Most Convincing and also Engaging Home Entertainment Brands in India," originally given out on February 28, 2024..The CCI approved the Rs 70,350-crore merger between RIL as well as Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Provider Law Tribunal (NCLT) offered its own clearance for the Viacom18-Star India merger on August 30. Visit this site to connect with us on WhatsApp.
The Reliance-Disney collaboration is going to compete with Sony, Netflix, and Amazon.com, using 120 television stations and also 2 streaming services.The merging is actually anticipated to become finalized in the last one-fourth of 2024 or even the very first quarter of 2025.
1st Posted: Sep 28 2024|9:50 PM IST.