Mukesh Ambani Frees Himself From Rs 71 Billion Strain, Reliance-Disney Merger Gets Ministry Approval

A big update has emerged in the Reliance-Disney merger case. On September 28, the Ministry of Information and Broadcasting gave its approval for the transfer of channels to Mukesh Ambani-led Reliance. This approval has been granted for the transfer of licenses related to non-news and current affairs television channels. Channels owned by Viacom 18 Media Private Limited will be transferred in favor of Star India Private Limited. This merger is subject to the terms of the Competition Commission of India (CCI).

CCI will take care of this

Let us tell you that this merger will be done only as per the conditions of the Competition Commission of India (CCI). CCI will ensure that this merger does not have any adverse impact on competition in the market and that the interests of consumers are protected. CCI’s terms and conditions will ensure that this merger does not create a monopoly situation and that viewers of all channels continue to get high-quality services at affordable prices.

Dominance will increase in the media sector

This merger will not only impact the reach and popularity of the channels but will also drive competition and innovation in the Indian media industry. Reliance, which has established its presence in the Indian media sector in the last few years through Jio and Viacom 18, will now be able to further expand its influence in the sector through this partnership with Star India. We told you that previously CCI had also expressed its concern about this agreement. After which it looked like it might take time to get his approval. At that time, clouds of danger were hanging over this deal valued at around Rs 71,000 crore.

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That’s why CCI was worried about the market

Currently, Viacom 18 is owned by Reliance, which also runs Jio Cinema OTT. While Star India business is handled by Disney which has Disney+ Hotstar OTT. These two groups together own almost all the broadcasting rights of IPL and ICC cricket matches in the country. This was CCI’s biggest concern.

Sources say CCI has written separately to Disney explaining its concerns related to this deal. He says this merger deal will affect other players in the market. This will affect Sony, Zee Entertainment, Netflix and Amazon. The new company will have around 120 TV channels and 2 OTT platforms.