Reliance's Viacom18 Gets Approval for TV Channel License Transfer to Disney's Star India - All You Have To Know

Reliance Industries Ltd announced that the Ministry of Information and Broadcasting has approved the transfer of non-news and current affairs TV channel licenses from Reliance’s Viacom18 to Disney’s Star India. This approval came on Friday, September 27, 2024, and is subject to conditions set by the Competition Commission of India (CCI).

This decision is part of a larger merger between Reliance and Disney’s entertainment businesses, valued at more than ₹70,000 crore ($8.5 billion). The CCI had already given its approval for this merger in August 2024. The goal of the merger is to create India’s largest entertainment company, bringing together more than 120 TV channels and two streaming services, with a combined audience of over 750 million viewers.

The merger was initially announced on February 28, 2024, in a joint statement by Reliance and Disney. It involves the collaboration between Reliance’s Viacom18 Media Private Limited and Digital18 Media Limited, with Disney’s Star India and Star Television Productions.

After the merger, Reliance will own a 63.16% stake in the new entity, while Disney will hold the remaining 36.84%. This new entertainment company will compete with major platforms like Netflix, Amazon Prime Video, and Sony in the Indian market.

The merger is expected to be completed by the last quarter of 2024 or the first quarter of 2025. Once finalized, Nita Ambani will take on the role of chairperson of the new company, and former Walt Disney executive Uday Shankar will serve as vice chairperson.

This merger marks a significant shift in India’s entertainment landscape and aims to create a leading platform that will offer both television and digital content to millions of viewers across the country.

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