.2 min read Final Updated: Sep 28 2024|10:01 PM IST.On Sunday, the Ministry of Information and Televison broadcasting approved Reliance Industries Limited (RIL) approval for the move of licenses for non-news as well as existing events television networks. Because of this, the stations owned through Viacom 18 Media Pvt Ltd will certainly be transmitted to Celebrity India Private Limited. This merger will move on under the specifications set forth by the Competitors Earnings of India (CCI).This decision belongs to a strategic joint project in between Dependence Industries Ltd and Disney.
RIL mentioned that the authorities’s commendation was actually provided with a purchase outdated September 27, 2024, following a news releases labelled “Reliance and Disney Announce Strategic Joint Endeavor to Bring Together the Most Powerful and also Engaging Enjoyment Brands in India,” originally issued on February 28, 2024..The CCI approved the Rs 70,350-crore merging between RIL and also Disney’s Indian media resources on August 28, 2024. The Mumbai bench of the National Provider Law Tribunal (NCLT) gave its approval for the Viacom18-Star India merging on August 30. Visit here to connect with us on WhatsApp.
The Reliance-Disney alliance is going to take on Sony, Netflix, as well as Amazon, offering 120 TV networks as well as two streaming services.The merging is actually foreseed to become finalized in the final quarter of 2024 or even the 1st fourth of 2025. 1st Posted: Sep 28 2024|9:50 PM IST.