Official announcements from Reliance Industries or Disney

CCI Approves $8.5 Billion Reliance-Disney Merger with Modifications

Aug 28, 2024, 12:05 PM

The Competition Commission of India (CCI) has approved the $8.5 billion (Rs 70,350-crore) merger between Reliance Industries and Disney's Indian media assets. The merger, involving Reliance Industries Limited, Viacom18 Media Private Limited, Digital18 Media Limited, Star India Private Limited, and Star Television Productions Limited, is subject to certain voluntary modifications. The deal aims to create India's largest entertainment company, challenging major players like Sony, Netflix, and Amazon, with a portfolio of 120 TV channels and two streaming services. The approval comes amid concerns about the potential dominance in cricket broadcasting rights, which were addressed through commitments not to raise advertising rates on cricket streaming. The merger is expected to significantly impact the Indian media landscape. Mukesh Ambani's Reliance Industries is at the forefront of this transformative deal.