.2 minutes read Final Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Administrative Agency of Relevant information and Transmitting gave Reliance Industries Limited (RIL) approval for the transmission of licenses for non-news and also present affairs TV channels. Because of this, the channels owned through Viacom 18 Media Pvt Ltd will be moved to Celebrity India Private Limited. This merging will certainly continue under the requirements set forth due to the Competitors Earnings of India (CCI).This selection is part of a key shared endeavor between Reliance Industries Ltd and Disney.
RIL pointed out that the authorities’s approval was actually offered by means of an order outdated September 27, 2024, observing a news releases labelled “Dependence and Disney Announce Strategic Joint Project to Bring Together one of the most Compelling as well as Engaging Home Entertainment Brands in India,” initially provided 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 Company Law 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 collaboration will compete with Sony, Netflix, and also Amazon.com, using 120 TV channels and also pair of streaming services.The merger is expected to become finalised in the last fourth of 2024 or the first fourth of 2025. 1st Released: Sep 28 2024|9:50 PM IST.