.2 minutes checked out Final Improved: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Relevant information as well as Televison broadcasting granted Reliance Industries Limited (RIL) commendation for the transfer of licenses for non-news and also current affairs TV stations. Therefore, the stations owned by Viacom 18 Media Pvt Ltd will be moved to Celebrity India Private Limited. This merger is going to continue under the specifications stated due to the Competition Commission of India (CCI).This selection becomes part of a tactical joint venture in between Reliance Industries Ltd and also Disney. RIL pointed out that the federal government's commendation was given by means of a purchase dated September 27, 2024, adhering to a news releases entitled "Reliance as well as Disney Announce Strategic Joint Project to Bring Together the Most Engaging and Engaging Enjoyment Brands in India," initially given out on February 28, 2024..The CCI approved the Rs 70,350-crore merger between RIL as well as Disney's Indian media properties on August 28, 2024. The Mumbai bench of the National Provider Regulation Tribunal (NCLT) offered its own approval for the Viacom18-Star India merger on August 30. Click here to get in touch with us on WhatsApp.
The Reliance-Disney partnership will compete with Sony, Netflix, and Amazon, delivering 120 television channels and also pair of streaming solutions.The merger is actually foreseed to become settled in the final fourth of 2024 or even the very first quarter of 2025.
First Posted: Sep 28 2024|9:50 PM IST.