CCI Greenlights Joint Venture of Reliance, Viacom18, and Star India Amid Voluntary Modifications

The Competition Commission of India (CCI) has approved the merger involving Reliance Industries, Viacom18, and Star India, with specific voluntary modifications required. This joint venture aims to combine their entertainment sectors, enhancing their media and broadcasting capabilities while integrating significant business operations.

The Competition Commission of India (CCI) has given the nod to a significant merger involving Reliance Industries Limited, Viacom18 Media Private Limited, Digital18 Media Limited, Star India Private Limited, and Star Television Productions Limited. The approval comes with the condition of adhering to specified voluntary modifications.

According to CCI's statement, the merger aims to consolidate the entertainment and other identified businesses of Viacom18, part of the Reliance Industries group, and Star India Private Limited, owned by the Competition Commission of India (TWDC). This merger will create a joint venture involving Reliance Industries, Viacom18, and the existing TWDC subsidiaries.

Post-transaction, subsidiaries of Star India Private Limited will form a joint venture, co-held by Reliance Industries, Viacom18, and TWDC subsidiaries. Reliance Industries has a diversified business portfolio, including oil and gas exploration, petrochemical manufacturing, retail, media, and telecommunications services.

Viacom18 is involved in TV broadcasting, OTT platforms, commercial advertisement sales, merchandising, and live event organization in both domestic and international markets. It also produces and distributes motion pictures.

Star India Private Limited operates in several media sectors, including TV broadcasting, AV content production, OTT platforms, and commercial advertisement sales. Star Television Productions Limited is a British Virgin Islands-incorporated company owned indirectly by TWDC.

The CCI has stipulated that the merger follow specific voluntary modifications, and a detailed order will be issued. (ANI)

(With inputs from agencies.)