.2 minutes read Last Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Administrative Agency of Information as well as Transmitting provided Reliance Industries Limited (RIL) commendation for the transfer of licenses for non-news and present undertakings television channels. Consequently, the channels owned through Viacom 18 Media Pvt Ltd are going to be actually transferred to Superstar India Private Limited. This merging will certainly move on under the terms stated due to the Competitors Commission of India (CCI).This selection is part of a key shared endeavor between Dependence Industries Ltd as well as Disney. RIL mentioned that the authorities's commendation was offered by means of an order old September 27, 2024, observing a media release titled "Dependence and Disney Announce Strategic Junction Project to Combine the best Convincing as well as Engaging Home Entertainment Brands in India," originally given out on February 28, 2024..The CCI permitted the Rs 70,350-crore merger in between RIL as well as Disney's Indian media resources on August 28, 2024. The Mumbai bench of the National Company Rule Tribunal (NCLT) offered its approval for the Viacom18-Star India merging on August 30. Click on this link to connect with our company on WhatsApp.
The Reliance-Disney collaboration will definitely take on Sony, Netflix, as well as Amazon, giving 120 TV channels and 2 streaming companies.The merging is anticipated to become finalized in the final quarter of 2024 or the 1st fourth of 2025.
First Published: Sep 28 2024|9:50 PM IST.