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CCI approves Disney Star and Viacom18 merger
In May 2024, The Mumbai bench of the National Company Law Tribunal (NCLT) had approved the merger plan involving Reliance Industries Ltd's Viacom18, its wholly-owned subsidiary Digital18, and Walt Disney's Star India.
Reliance Industries has also assured that there would be no adverse impact on competition, as a result of the merger.
The Competition Commission of India (CCI) on Wednesday approved the merger of Disney Star and Viacom18.
In February 2024, Reliance Industries Limited, Viacom 18 Media Private Limited and The Walt Disney Company announced the signing of binding definitive agreements to form a joint venture which will combine the businesses of Viacom18 and Star India.
The above mentioned transaction would be resulting Viacom18 to be merged into Star India Private Limited through a court-approved scheme of arrangement. In May 2024, The Mumbai bench of the National Company Law Tribunal (NCLT) had approved the merger plan involving Reliance Industries Ltd's Viacom18, its wholly-owned subsidiary Digital18, and Walt Disney's Star India.
CCI in its statement on X said, "C-2024/05/1155 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."
SPOTLIGHT
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