.2 minutes went through Final Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Ministry of Details and Broadcasting gave Reliance Industries Limited (RIL) commendation for the transmission of licenses for non-news and current events television channels. As a result, the channels owned through Viacom 18 Media Pvt Ltd will be actually transferred to Celebrity India Private Limited. This merger will certainly continue under the stipulations stated due to the Competition Commission of India (CCI).This choice becomes part of an important joint endeavor in between Reliance Industries Ltd and Disney.
RIL pointed out that the government’s commendation was given via an order dated September 27, 2024, adhering to a media release titled “Dependence as well as Disney Announce Strategic Junction Endeavor to Unite one of the most Engaging and also Engaging Entertainment Brands in India,” initially given out on February 28, 2024..The CCI accepted the Rs 70,350-crore merger between RIL and Disney’s Indian media possessions on August 28, 2024. The Mumbai bench of the National Company Legislation Tribunal (NCLT) gave its clearance for the Viacom18-Star India merging on August 30. Go here to connect with our company on WhatsApp.
The Reliance-Disney partnership is going to compete with Sony, Netflix, and Amazon.com, giving 120 TV stations and 2 streaming services.The merger is prepared for to become finalised in the final one-fourth of 2024 or the very first quarter of 2025. Initial Posted: Sep 28 2024|9:50 PM IST.