The Competition Commission of India (CCI) has published a comprehensive 48-page order approving the merger of media assets between Reliance Industries (RIL) and The Walt Disney Company. This approval comes with several conditions, notably the divestment of seven television channels.
As part of obtaining the regulator’s approval, the parties have voluntarily agreed to not bundle TV ad slots for IPL, ICC, and BCCI cricketing rights until the current rights agreements expire.
The parties will divest seven TV channels, which include Super Hungama and Hungama.
The order stated, “The parties will not bundle together OTT ad slot sales for all three cricketing rights available with the parties i.e. IPL, ICC and BCCI for the balance tenure of the existing rights.”
The parties have given an undertaking that they will not raise advertisement rates to unreasonable levels on their television and streaming platforms for ICC and IPL events till the current rights are held by them.
On August 28, CCI said it had approved the merger of media assets between Reliance Industries and The Walt Disney Company. This strategic move is set to establish the largest media empire in the country, with a valuation exceeding Rs 70,000 crore.
The deal, which was announced earlier this year, underwent scrutiny from the antitrust regulator. Approval was granted after the involved parties proposed certain modifications to the original transaction structure.
