.2 minutes reviewed Final Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Information and also Transmitting provided Dependence Industries Limited (RIL) commendation for the transfer of licenses for non-news and also current affairs television stations. Because of this, the channels owned by Viacom 18 Media Pvt Ltd will definitely be moved to Celebrity India Private Limited. This merger will move on under the stipulations set forth by the Competition Earnings of India (CCI).This selection becomes part of a critical shared endeavor in between Reliance Industries Ltd as well as Disney. RIL discussed that the authorities's commendation was provided by means of a purchase dated September 27, 2024, complying with a media release labelled "Dependence and also Disney Announce Strategic Joint Endeavor to Bring Together the Most Compelling as well as Engaging Amusement Brands in India," initially issued on February 28, 2024..The CCI authorized the Rs 70,350-crore merger between RIL and also Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Company Legislation Tribunal (NCLT) provided its own approval for the Viacom18-Star India merging on August 30. Click on this link to associate with our team on WhatsApp.
The Reliance-Disney partnership is going to take on Sony, Netflix, and Amazon.com, using 120 TV stations and two streaming companies.The merger is expected to become finalised in the final quarter of 2024 or even the 1st quarter of 2025.
First Posted: Sep 28 2024|9:50 PM IST.