Business

Reliance Industries protects Facility's permission for transmission of stations Provider News

.2 minutes reviewed Last Improved: Sep 28 2024|10:01 PM IST.On Sunday, the Department of Details as well as Transmitting gave Reliance Industries Limited (RIL) approval for the transfer of licenses for non-news and also present events TV stations. Therefore, the stations possessed by Viacom 18 Media Pvt Ltd will certainly be moved to Celebrity India Private Limited. This merger will move on under the terms stated due to the Competition Commission of India (CCI).This selection becomes part of a calculated shared project between Dependence Industries Ltd and also Disney. RIL mentioned that the authorities's approval was actually given through an order dated September 27, 2024, complying with a media release entitled "Dependence and also Disney Announce Strategic Junction Project to Combine the Most Convincing as well as Engaging Home Entertainment Brands in India," initially given out on February 28, 2024..The CCI authorized the Rs 70,350-crore merger in between RIL and also Disney's Indian media properties on August 28, 2024. The Mumbai bench of the National Firm Rule Tribunal (NCLT) gave its own authorization for the Viacom18-Star India merging on August 30. Visit here to associate with our team on WhatsApp.
The Reliance-Disney collaboration will certainly compete with Sony, Netflix, and also Amazon, using 120 television channels and two streaming services.The merger is actually prepared for to be finalized in the last quarter of 2024 or the 1st quarter of 2025.
Initial Posted: Sep 28 2024|9:50 PM IST.