.2 min read through Last Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Administrative Agency of Information and also Televison broadcasting granted Dependence Industries Limited (RIL) approval for the transactions of licenses for non-news as well as present undertakings television stations. Consequently, the channels owned through Viacom 18 Media Pvt Ltd will definitely be transferred to Celebrity India Private Limited. This merging is going to continue under the terms stated due to the Competition Earnings of India (CCI).This choice is part of an important joint venture between Dependence Industries Ltd and Disney. RIL mentioned that the authorities's commendation was given via a purchase old September 27, 2024, adhering to a media release entitled "Dependence as well as Disney Announce Strategic Junction Project to Unite the best Convincing and also Engaging Amusement Brands in India," originally provided on February 28, 2024..The CCI permitted the Rs 70,350-crore merging in between RIL and Disney's Indian media properties on August 28, 2024. The Mumbai bench of the National Provider Rule Tribunal (NCLT) gave its approval for the Viacom18-Star India merger on August 30. Go here to connect with our team on WhatsApp.
The Reliance-Disney collaboration will definitely compete with Sony, Netflix, as well as Amazon.com, providing 120 TV networks and two streaming services.The merging is foreseed to be settled in the last fourth of 2024 or even the initial fourth of 2025.
1st Published: Sep 28 2024|9:50 PM IST.