.2 minutes checked out Last Upgraded: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Information and Televison broadcasting provided Dependence Industries Limited (RIL) approval for the move of licenses for non-news and current undertakings television channels. As a result, the channels owned through Viacom 18 Media Pvt Ltd will certainly be transmitted to Celebrity India Private Limited. This merger is going to move on under the specifications stated by the Competitors Commission of India (CCI).This decision is part of a critical joint project between Dependence Industries Ltd and also Disney. RIL mentioned that the federal government's approval was actually given by means of an order outdated September 27, 2024, following a media release entitled "Dependence and Disney Announce Strategic Junction Endeavor to Combine the Most Convincing and also Engaging Amusement Brands in India," originally issued on February 28, 2024..The CCI accepted 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 Firm Law Tribunal (NCLT) gave its approval for the Viacom18-Star India merger on August 30. Click on this link to connect with our company on WhatsApp.
The Reliance-Disney alliance will take on Sony, Netflix, as well as Amazon, delivering 120 television networks as well as 2 streaming companies.The merger is anticipated to become finalized in the final one-fourth of 2024 or the 1st fourth of 2025.
Initial Published: Sep 28 2024|9:50 PM IST.