The merger between Reliance Industries’ (RIL) media assets and the India business of The Walt Disney is expected to be finalised by the end of the third quarter of this fiscal year, as per a regulatory filing by RIL.
The Competition Commission of India (CCI) has approved the merger between Viacom18 and Star India, and the National Company Law Tribunal (NCLT) has also sanctioned the related scheme.
“Viacom18 and Star India obtained the approval from Competition Commission of India for the proposed transaction between the two companies. and the Scheme of Arrangement for merging their business was sanctioned by the National Company Law Tribunal, Mumbai Bench. The companies are in the process of obtaining other requisite approvals for the completion of the transaction and transaction closer is expected in 3Q FY25,” RIL stated in the regulatory filing.
The merger of TV18 Broadcast (TV18), and e-Eighteen.com (E18) with Network18 Media
and Investments (Network18) through a Scheme of Arrangement was sanctioned by the
NCLT, Mumbai Bench and was made effective on October 3, 2024, it said.
Also read: Nita & Akash Ambani Join Viacom18 Board Ahead Of Merger With Disney’s Star India
Mukesh Ambani-led RIL and its affiliates will acquire a 63.16% stake in the merged entity, which will encompass two streaming platforms and 120 television channels. Walt Disney will retain a 36.84% stake in what will be India’s largest media company.
