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regular-article-logo Monday, 14 October 2024

Competition Commission of India clears merger of Reliance Industries' media assets with Walt Disney

Under the deal, Reliance and its affiliates will hold a 63.16 % stake in the combined entity that will house two streaming services and 120 television channels

PTI New Delhi Published 28.08.24, 04:37 PM
Representational image.

Representational image. File

Competition Commission of India on Wednesday said it has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country's largest media empire.

The deal, announced six months ago, has been cleared by the CCI with certain modifications proposed by the two parties.

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In a post on X, the regulator said it has cleared 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".

The CCI, however, did not disclose voluntary modifications in the original deal made by the two parties.

Under the deal, Reliance and its affiliates will hold a 63.16 per cent stake in the combined entity that will house two streaming services and 120 television channels.

Walt Disney will hold the remaining 36.84 per cent stake.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.

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