walt disney company India’s antitrust regulator said on Wednesday India’s antitrust regulator said India Media Corp and Reliance Industries had received approval to merge their Indian media assets for $8.5 billion, subject to conditions Make some modifications.
Reliance Disney aims to build India’s biggest entertainment company to compete sony, Netflix and Amazon It has 120 TV channels and two streaming services.
The Competition Commission of India (CCI) issued warning notices to the companies earlier this month, expressing concerns that the merged entity would tightly control most cricket TV and streaming rights in India and could harm the interests of advertisers.
According to sources with direct knowledge of the matter, the two companies have since made concessions to the CCI, including a promise not to unreasonably increase advertising rates for streaming cricket matches.
In a statement, the CCI said it “approved the proposed merger” but gave no further details.
The combined company will be majority-owned by Reliance, owned by Asia’s richest man Mukesh Ambani. CCI asked Reliance and Disney privately about 100 questions related to the merger.
About The Author
