Competition Commission of India has approved the merger agreement between Reliance and Walt Disney. It is said that this deal will be completed for 70 thousand crore rupees.

On Wednesday, the Competition Commission of India gave the green signal to Reliance and Walt Disney (India). This endorsement created the largest media empire in India. As a result, companies like Netflix, Sony, Zee Entertainment will be under a lot of pressure.

After the stock market closed on Wednesday, India’s regulator said it was approving the proposed deal of Reliance Industries Ltd, Viacom18 Media Pvt Ltd, Digital18 Media Ltd, Star India Pvt Ltd and Star Television Productions Ltd, ‘subject to voluntary modifications’.

However, the Competition Commission of India has not informed what exactly is the matter of ‘subject to voluntary change’.

The spokespersons of Reliance Industries Limited and Disney India did not comment on this for now.

According to the agreement, Mukesh Ambani’s Reliance Industries will own 63.16 percent of the joint venture being formed by combining Reliance and Disney. And Walt Disney has the remaining 36.84 percent shares. Nita Ambani is the leader of that joint company. And his deputy will be former Disney Uday Shankar.

Disney and Reliance fought a pitched battle over IPL broadcast rights. Disney eventually acquired the TV broadcast rights. And the Ambani got ownership of digital streaming by beating Disney. And now with the deal, Hotstar (Disney’s streaming platform) and Jio Cinemas are under the same umbrella.

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