New Delhi: Competition regulator CCI has approved the $8.5 billion merger of Reliance Industries and Disney’s Indian media assets, subject to certain voluntary modifications, it said in a post on social media platform X on Wednesday. The Competition Commission of India (CCI) did not disclose the concessions made.
Disney and Reliance had offered some concessions to secure an the approval for their merger, Reuters reported last week, citing sources. Reliance-Disney aims to create India’s biggest entertainment player to compete with Sony, Netflix and Amazon with 120 TV channels and two streaming services.
C-2024/05/1155 Commission approves the proposed combination involving Reliance Industries Limited, Viacom18 Media Private Limited, Digital18 Media Limited, Star India Private Limited and Star Television Productions Limited, subject to the compliance of voluntary modifications. pic.twitter.com/S2JVzw2VgR
— CCI (@CCI_India) August 28, 2024
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The Competition Commission of India has given its nod to the merger of Reliance Industries’ media arm and Walt Disney’s India business. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
