CCI approves Disney-Viacom18 merger

Deal valued at Rs 70,350 crore

Reliance Industries to invest Rs 11,500 crore

The Competition Commission of India (CCI) has approved the merger between Disney and Viacom18, a joint venture between Reliance Industries and Network18.

The merger, valued at Rs 70,350 crore ($8.5 billion) on a post-money basis, will involve Reliance Industries investing Rs 11,500 crore ($1.4 billion) into the joint venture.

The post-merger joint venture will be one of the largest entertainment companies in India, with a portfolio of over 70 TV channels, 10 OTT platforms, and a vast library of movies and TV shows.

• The merger will create a formidable player in the Indian entertainment industry.
• Reliance Industries will invest Rs 11,500 crore into the joint venture.
• The post-merger joint venture will be one of the largest entertainment companies in India.

The CCI's approval is a significant step towards the completion of the merger, which is expected to be completed by the end of 2023.

The merger is part of Reliance Industries' strategy to expand its presence in the media and entertainment sector. The company has already acquired a number of media assets in recent years, including Network18, Balaji Telefilms, and JioCinema.

The Disney-Viacom18 merger is expected to create a strong competitor to the likes of Star India and Zee Entertainment. The joint venture will have a wide reach across India, with a presence in both urban and rural areas.

The merger is also expected to benefit consumers, who will have access to a wider range of content across different platforms.