.2 minutes read Final Upgraded: Sep 28 2024|10:01 PM IST.On Saturday, the Department of Details and also Televison broadcasting provided Reliance Industries Limited (RIL) approval for the move of licenses for non-news and also existing undertakings TV networks. Therefore, the stations possessed through Viacom 18 Media Pvt Ltd will be transmitted to Superstar India Private Limited. This merging will certainly proceed under the specifications stated due to the Competitors Commission of India (CCI).This selection belongs to a tactical joint project between Dependence Industries Ltd and also Disney. RIL mentioned that the authorities's commendation was provided via a purchase dated September 27, 2024, complying with a media release labelled "Dependence and also Disney Announce Strategic Junction Project to Bring Together one of the most Compelling and also Engaging Entertainment Brands in India," initially issued on February 28, 2024..The CCI accepted the Rs 70,350-crore merging between RIL and Disney's Indian media properties on August 28, 2024. The Mumbai bench of the National Company Law Tribunal (NCLT) offered its own authorization for the Viacom18-Star India merging on August 30. Visit here to get in touch with us on WhatsApp.
The Reliance-Disney partnership will certainly compete with Sony, Netflix, and Amazon, supplying 120 television networks and also 2 streaming solutions.The merging is foreseed to become settled in the final quarter of 2024 or even the initial one-fourth of 2025.
Very First Released: Sep 28 2024|9:50 PM IST.