India‘s Competition Commission has approved the proposed merger between Reliance Industries Limited (RIL) and key entertainment assets of The Walt Disney Company (TWDC) in India, subject to voluntary modifications.
Announced in February, the deal will combine the entertainment businesses of Viacom18, part of billionaire Mukesh Ambani’s RIL group, with Star India Private Limited (SIPL), a wholly owned Disney subsidiary.
Post-transaction, SIPL will become a joint venture held by RIL, Viacom18 and existing TWDC subsidiaries. RIL, a diversified conglomerate created by billionaire Mukesh Ambani, brings its media and entertainment portfolio to the table.
Viacom18’s assets include TV broadcasting, streaming platform JioCinema, advertising sales, merchandising and film production and distribution.
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