.2 min read Final Upgraded: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Details as well as Televison broadcasting granted Dependence Industries Limited (RIL) commendation for the transfer of licenses for non-news and existing events television networks. Consequently, the channels possessed by Viacom 18 Media Pvt Ltd will be moved to Celebrity India Private Limited. This merging is going to move on under the terms set forth due to the Competition Earnings of India (CCI).This decision becomes part of a tactical joint endeavor between Reliance Industries Ltd and Disney.
RIL stated that the government’s commendation was provided through an order old September 27, 2024, following a news releases entitled “Dependence as well as Disney Announce Strategic Joint Project to Combine the absolute most Compelling and Engaging Home Entertainment Brands in India,” originally provided on February 28, 2024..The CCI accepted the Rs 70,350-crore merging in between RIL and also Disney’s Indian media properties on August 28, 2024. The Mumbai bench of the National Firm Law Tribunal (NCLT) gave its own clearance for the Viacom18-Star India merging on August 30. Visit this site to associate with our team on WhatsApp.
The Reliance-Disney alliance will take on Sony, Netflix, as well as Amazon, giving 120 television networks and 2 streaming services.The merging is actually prepared for to become finalized in the final fourth of 2024 or even the very first quarter of 2025. Initial Posted: Sep 28 2024|9:50 PM IST.