New Delhi: Reliance Industries and Walt Disney have agreed to not bundle ad sales for IPL, ICC, and BCCI cricket rights, following conditions set by the Competition Commission of India (CCI).
The CCI’s approval of the mega merger between the two media giants, valued at over Rs.70,000 crore, came with several stipulations, including the disposal of seven television networks. As part of the regulatory process, Reliance and Disney voluntarily committed to not bundle ad slots for the three cricketing rights until the end of their existing contracts.
The 48-page CCI order, released on Tuesday, also mandates the sale of seven television stations, including Hungama and Super Hungama.
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The merger, announced in February, aims to create India’s largest media empire, combining Reliance’s Viacom18 Media and Digital18 with Disney’s Star India and Star Television. The combined entity will hold a significant share of the country’s cricketing and entertainment broadcasting rights.
While the merger faced scrutiny from the CCI, the approval follows modifications proposed by the parties to the original transaction structure. The Ministry of Information and Broadcasting also recently approved the transfer of TV channels from Viacom 18 Media Pvt Ltd to Star India.
With the merger, Reliance and Disney are set to reshape India’s media landscape, offering two streaming services and 120 television channels. Reliance will hold a controlling stake of 60% in the combined entity, while Disney will own 37%.
