Viacom 18 Disney Merger: Viacom18, the digital unit of Reliance Industries, the company of the country’s richest man Mukesh Ambani, has achieved another milestone in digital media. According to the information given to the stock market exchange by Reliance Industries and TV18 Broadcast, the Ministry of Information and Broadcasting has given this approval through the order of September 27. It has approved the transfer of the license related to non-news and current affairs TV channels of Reliance Industries’ media unit to Star India.
The merger of media assets of Reliance Industries and The Walt Disney Company will create the country’s largest media group, its valuation is going to be more than Rs 70,000 crore. Earlier, CCI had said that it has approved the combination proposal of Reliance Industries Limited, Viacom18 Media Private Limited, Digital18 Media Limited, Star India Private Limited (SIPL) and Star Television Productions Limited (STPL) in compliance with the voluntary proposal. .
Once the deal is finalized from both sides and the merger is almost in the final stages, these companies are subject to all business coordination and terms and conditions of the Competition Commission of India (CCI) and the business terms and conditions accordingly. Making some changes.
The Ministry of Information and Broadcasting through its order dated 27 September 2024 said-
Star India has been given its approval to transfer the license related to non-news and current affairs TV channels of Viacom18 Media Private Limited.
Viacom18 is a holding company that owns the media and entertainment businesses of Reliance Industries and Bodhi Tree Systems.
In this scheme, there was a proposal to transfer Viacom18 and Jio Cinema to Digital18, which is a subsidiary company of Viacom18.
In this deal, Mukesh Ambani-led RIL and its associates will hold 63.16 percent stake in the joint unit.
It will have two streaming services and 120 television channels. Walt Disney will have the remaining 36.84 percent stake in this joint unit.
After all this it will be the biggest media company of the country.
Nita Ambani, wife of RIL Chairman Mukesh Ambani, will be the chairperson of the joint unit and Uday Shankar will be its vice-chairperson.
When was NCLT approval received?
The scheme of merger of both the companies i.e. Viacom18 Media and Digital 18 Media was approved by NCLT on August 30.
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