The merger of media property between Reliance Industries and the Indian operations of worldwide media big Walt Disney is predicted to be finalised within the third quarter of this fiscal yr, in keeping with a regulatory submitting by the Mukesh Ambani-led conglomerate.
The honest commerce regulator, Competitors Fee of India (CCI), has already authorised the merger of Viacom18 and Star India, and the Nationwide Firm Regulation Tribunal (NCLT) has sanctioned the related scheme.
“The businesses are within the technique of acquiring different requisite approvals for the completion of the transaction and transaction nearer is predicted in 3Q FY 25,” the corporate acknowledged.
Beneath the deal, Mukesh Ambani-led Reliance Industries (RIL) and its associates will maintain a 63.16% stake within the mixed entity, which can embrace two streaming platforms and 120 tv channels. Walt Disney will retain the remaining 36.84% stake in what’s going to turn into India’s largest media firm. Nita Ambani, spouse of RIL Chairman Mukesh Ambani, will lead the three way partnership as chairperson, whereas Uday Shankar will function vice-chairperson.
Written with the View : afaqs