The CCI has said that the merger is subject to the compliance of voluntary modifications
Earlier this month, RIL and Walt Disney proposed a two-year freeze on advertising rate cards to secure the Competition Commission of India’s approval for their Star India and Viacom18 merger
Reliance Industries Ltd and The Walt Disney Company inked a deal earlier this year to set up a joint venture that would combine the businesses of Viacom18 and Star India Private Limited
The Competition Commission of India (CCI) has granted its approval to the $8.5 Bn merger of Reliance’s media operations and Disney India.
In a post on X, the CCI said, “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.”
Earlier this month, RIL and Walt Disney reportedly proposed a two-year freeze on advertising rate cards to secure the Competition Commission of India’s approval for their Star India and Viacom18 merger. This was discussed internally to offer price stability to advertisers and agencies during the period.
Reliance Industries Ltd and The Walt Disney Company inked a deal earlier this year to set up a joint venture (JV) that would combine the businesses of Viacom18 and Star India Private Limited.
At the time, it was reported that the merged entity would operate over 100 TV channels and streaming platforms Disney+ Hotstar and JioCinema. The entity would also have exclusive rights to distribute Disney’s content in India, as well as sports content owned by Viacom18. Additionally, RIL announced plans to invest INR 11,500 Cr in the joint venture to support its growth.
On the financial side, Walt Disney previously disclosed that it had incurred over $2 Bn in charges for the second quarter of 2024 due to goodwill impairments related to Star India, stemming from the merger with Reliance Industries.
