CCI Approves Mega-Merger of Reliance Industries and Walt Disney Media Assets

The Competition Commission of India has sanctioned the merger of media assets between Reliance Industries and Walt Disney Co, forming the largest media conglomerate in India. The deal, first announced six months ago, involves multiple entities and will include modifications suggested by the involved parties.

The Competition Commission of India (CCI) has given its nod to the merger of media assets owned by Reliance Industries and Walt Disney Co, creating India's largest media empire.

Approved six months after the initial announcement, the CCI has cleared the deal with specific voluntary modifications submitted by both companies involved.

The newly formed entity will see Reliance and its affiliates holding a 63.16% stake, while Walt Disney will maintain a 36.84% share. This combined media giant will encompass two streaming services and 120 television channels, though detailed modifications remain undisclosed.

(With inputs from agencies.)