.2 minutes checked out Last Upgraded: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Relevant information as well as Broadcasting gave Dependence Industries Limited (RIL) commendation for the transactions of licenses for non-news and existing affairs TV channels. As a result, the networks possessed through Viacom 18 Media Pvt Ltd will definitely be actually transferred to Celebrity India Private Limited. This merging is going to proceed under the provisions stated due to the Competition Commission of India (CCI).This selection is part of a calculated joint endeavor between Reliance Industries Ltd and also Disney. RIL mentioned that the authorities's commendation was actually given through a purchase old September 27, 2024, adhering to a news releases labelled "Reliance as well as Disney Announce Strategic Junction Endeavor to Combine the best Convincing as well as Engaging Enjoyment Brands in India," originally given out on February 28, 2024..The CCI authorized the Rs 70,350-crore merging between RIL and also Disney's Indian media assets on August 28, 2024. The Mumbai bench of the National Business Legislation Tribunal (NCLT) offered its approval for the Viacom18-Star India merger on August 30. Go here to connect with us on WhatsApp.
The Reliance-Disney collaboration will take on Sony, Netflix, as well as Amazon.com, offering 120 TV networks and also two streaming companies.The merging is actually prepared for to be settled in the last quarter of 2024 or the first quarter of 2025.
1st Published: Sep 28 2024|9:50 PM IST.