India’s Competition Commission Approves Merger of Reliance Industries’ Media Assets and Disney
Kathmandu, Aug 30: India’s competition regulator, the Competition Commission of India, has granted approval for the merger of Reliance Industries’ media assets with The Walt Disney Company.
Following the merger, the combined media empire of Reliance will be valued at ₹70,000 crores.
The merger deal, announced six months ago, faced scrutiny from the anti-trust regulator. Several amendments were made to the agreement in response to the scrutiny, leading to its eventual approval.
Post-merger, Mukesh Ambani’s Reliance Industries will hold the largest stake in the newly formed venture.
The new entity will compete with major streaming companies such as Sony, Netflix, and Amazon, and will secure the rights to broadcast a significant number of sporting events in India, including major cricket tournaments.
The merger process is expected to be finalized within the next six months, with Mukesh Ambani’s wife, Nita Ambani, set to chair the new venture.
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