New Delhi: A significant step towards consolidation in the Indian media landscape was taken today as the Mumbai bench of the National Company Law Tribunal (NCLT) granted approval to the merger scheme between Walt Disney’s Star India and Reliance Industries Limited’s Viacom18.
The NCLT’s decision comes on the heels of the Competition Commission of India (CCI) giving its nod to the merger, subject to certain conditions to address potential competition concerns. The tribunal, in its 22-page order, noted that both parties had met all statutory requirements and that the merger scheme appeared to be fair and reasonable.
This merger is expected to create a media behemoth in India, combining the strengths of Star India’s content library and Viacom18’s distribution network. The combined entity will have a significant presence across various platforms, including television, digital, and film.
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While the exact details of the CCI’s conditions remain confidential, it is anticipated that they are aimed at ensuring a level playing field in the Indian media market and preventing any undue concentration of power.
The approval from the NCLT marks a crucial milestone in the merger process, paving the way for the integration of the two companies. The combined entity is expected to have a profound impact on the Indian media landscape, shaping the future of content consumption and distribution in the country.
