.2 min checked out Final Updated: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Information as well as Televison broadcasting approved Dependence Industries Limited (RIL) commendation for the transmission of licenses for non-news and existing undertakings TV channels. As a result, the networks owned through Viacom 18 Media Pvt Ltd are going to be actually transmitted to Celebrity India Private Limited. This merger will certainly proceed under the stipulations stated due to the Competition Commission of India (CCI).This decision is part of a strategic shared venture in between Dependence Industries Ltd as well as Disney. RIL mentioned that the federal government's approval was actually provided with a purchase old September 27, 2024, adhering to a media release labelled "Dependence and also Disney Announce Strategic Joint Venture to Unite the Most Engaging and Engaging Home Entertainment Brands in India," originally issued on February 28, 2024..The CCI accepted 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 Business Legislation Tribunal (NCLT) gave its own clearance for the Viacom18-Star India merger on August 30. Click on this link to connect with us on WhatsApp.
The Reliance-Disney partnership will certainly take on Sony, Netflix, and also Amazon.com, offering 120 TV networks and also 2 streaming services.The merger is actually anticipated to be settled in the last quarter of 2024 or the initial fourth of 2025.
Very First Released: Sep 28 2024|9:50 PM IST.