Mega Media Merger Approved by CCI

The Competition Commission of India has approved the merger of Reliance Industries and Walt Disney's media assets, with conditions such as divesting seven TV channels. The companies agreed not to bundle TV ad slots for cricket rights until the current contracts end, and won't increase ad rates exorbitantly.

The Competition Commission of India (CCI) has issued a 48-page order favoring the substantial merger between Reliance Industries and Walt Disney, conditioned upon several stipulations.

The conglomerates have pledged not to integrate TV advertising slots for IPL, ICC, and BCCI cricket rights until the expiration of current agreements. Notably, this agreement includes offloading of channels such as Hungama and Super Hungama.

This noteworthy merger, approved last August, marks the advent of a new media powerhouse valued at over Rs 70,000 crore, despite initial challenges posed by anti-trust examinations.

(With inputs from agencies.)