Reliance-Disney Merger Approved, Channels to Transfer to Star India
On Saturday, Reliance Industries Limited (RIL) received approval from the Ministry of Information and Broadcasting for transferring licenses for its non-news and current affairs TV channels. As part of this move, Viacom 18 Media Pvt Ltd’s channels will shift to Star India Private Limited, in line with Competition Commission of India (CCI) regulations.
This decision follows the strategic partnership between RIL and Disney, announced on February 28, 2024. The CCI approved the Rs 70,350-crore merger on August 28, 2024, and the National Company Law Tribunal (NCLT) cleared it on August 30.
Once finalized, the Reliance-Disney joint venture will compete with major players like Sony, Netflix, and Amazon, offering 120 TV channels and two streaming platforms. The merger is expected to be completed by late 2024 or early 2025.
