Reliance eyes completing merger with Disney's India business in Q3
The merger of media assets of Reliance Industries and the India business of global media house the Walt Disney is expected to be complete by the end of the third quarter of this fiscal, according to a regulatory filing by billionaire Mukesh Ambani-led group.
The fair trade regulator CCI has already approved the merger of Viacom 18 and Star India and NCLT (National Company Law Tribunal) has sanctioned the scheme regarding it.
"The companies are in the process of obtaining other requisite approvals for the completion of the transaction and transaction closer is expected in 3Q FY 25," informed Reliance Industries on Monday in its quarter earning statement.
The merger of Reliance group-controlled media assets - TV18 Broadcast and E18 - with Network18 Media & Investments has already been sanctioned by the NCLT and was made effective on October 3, it said.
Earlier on September 27, the government approved the transfer of licenses relating to Non News & Current Affairs TV channels ...