India's Largest Media Merger: Reliance and Disney Join Forces

The Competition Commission of India has approved the merger of Reliance Industries' and Walt Disney Co's media assets, forming India's largest media empire valued at over Rs 70,000 crore. The deal, scrutinized for anti-competitive concerns, includes two streaming services and 120 TV channels, with Reliance holding a 63.16% stake and Disney 36.84%.

The Competition Commission of India (CCI) on Wednesday gave the green light for the merger between Reliance Industries and Walt Disney Co's media assets, creating India's largest media conglomerate worth over Rs 70,000 crore.

Announced six months ago, the merger had been under review by the anti-trust regulator. Approval was granted after both parties agreed to modify the original transaction structure.

In a post on X, the CCI confirmed clearing the proposed combination of Reliance, Viacom18, Digital18, and Star India, conditional upon compliance with voluntary modifications. The exact changes to the deal were not disclosed.

(With inputs from agencies.)