NCLT Approves Mega-Merger of Reliance's Viacom 18 with Star India

The National Company Law Tribunal (NCLT) has approved the merger of Reliance Industries' Viacom 18 Media with Star India. This will create India's largest media empire valued at over Rs 70,000 crore. The merger, involving the transfer of media operations and assets, marks a significant development in the country's entertainment sector.

The National Company Law Tribunal (NCLT) gave the green light on Friday for the merger of Reliance Industries-owned Viacom 18 Media with Star India, a major player in the global media landscape.

The tribunal's two-member bench approved the composite Scheme of Arrangement involving Viacom 18, Digital18, and Star India, which is owned by The Walt Disney Company. This follows the recent approval by the Competition Commission of India (CCI).

With this approval, the merger, aimed at creating India's largest media powerhouse worth over Rs 70,000 crore, moves forward. The NCLT stated that the scheme is fair, reasonable, and aligns with legal and public policies.

(With inputs from agencies.)