.2 min checked out Final Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Info and also Transmitting gave Dependence Industries Limited (RIL) commendation for the move of licenses for non-news and also present events TV channels. Consequently, the channels owned through Viacom 18 Media Pvt Ltd are going to be actually transferred to Star India Private Limited. This merging is going to go ahead under the stipulations set forth due to the Competition Commission of India (CCI).This decision becomes part of a strategic shared venture between Dependence Industries Ltd and also Disney. RIL discussed that the federal government's approval was given by means of an order old September 27, 2024, following a news releases titled "Reliance and Disney Announce Strategic Joint Venture to Unite one of the most Powerful and also Engaging Home Entertainment Brands in India," actually issued on February 28, 2024..The CCI approved the Rs 70,350-crore merger between RIL as well as Disney's Indian media possessions on August 28, 2024. The Mumbai bench of the National Firm Rule Tribunal (NCLT) gave its own clearance for the Viacom18-Star India merging on August 30. Click here to connect with us on WhatsApp.
The Reliance-Disney alliance will definitely take on Sony, Netflix, as well as Amazon, supplying 120 television stations as well as pair of streaming companies.The merging is anticipated to be finalized in the final quarter of 2024 or even the first quarter of 2025.
Initial Published: Sep 28 2024|9:50 PM IST.