Reliance Industries receives government approval for transfer of licenses to Disney's Star India

Reliance Industries Limited (RIL) has received the approval from Ministry of Information and Broadcasting for the transfer of licenses for non-news and current affairs TV channels. With this, the channels owned by Viacom 18 Media will be transferred to Star India. This merger will proceed under the stipulations set forth by the Competition Commission of India (CCI).   

This transfer is a part of the strategic joint venture between Reliance Industries and Disney. According to RIL, on September 27, 2024 the government gave the approval through an order, followed by a media release titled "Reliance and Disney Announce Strategic Joint Venture to Bring Together the Most Compelling and Engaging Entertainment Brands in India," originally issued on February 28, 2024.

The Rs 70,350-crore merger between RIL and Disney’s Indian media assets was approved by CCI on August 28,2024. On August 30, the Mumbai bench of the National Company Law Tribunal (NCLT) gave its clearance for the Viacom18-Star India merger.      

The merger is anticipated to be finalised in the last quarter of 2024 or the first quarter of 2025.