{"id":8662,"date":"2024-08-29T09:38:00","date_gmt":"2024-08-29T09:38:00","guid":{"rendered":"https:\/\/shoonya.com\/blog\/?p=8662"},"modified":"2026-05-26T04:40:27","modified_gmt":"2026-05-26T11:10:27","slug":"competition-commission-of-india","status":"publish","type":"post","link":"https:\/\/shoonya.com\/blog\/competition-commission-of-india\/","title":{"rendered":"Disney and Reliance Unite to Create \u20b970,352 Crore Media Powerhouse &#8211; CCI Nods"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\"><\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/shoonya.com\/blog\/competition-commission-of-india\/#Reliance_%E2%80%93_Disney_Merger_Details\" >Reliance \u2013 Disney Merger Details&nbsp;&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/shoonya.com\/blog\/competition-commission-of-india\/#Network_of_Reliances_Viacom18_Disney\" >Network of Reliance\u2019s Viacom18 &amp; Disney&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/shoonya.com\/blog\/competition-commission-of-india\/#Why_CCI_approval_was_necessary\" >Why CCI approval was necessary?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/shoonya.com\/blog\/competition-commission-of-india\/#What_next_after_CCI_Approval\" >What next after CCI Approval?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/shoonya.com\/blog\/competition-commission-of-india\/#Wrapping_up\" >Wrapping up&nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/shoonya.com\/blog\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/shoonya.com\/blog\/latest-news\/\">News<\/a><\/span> \u00bb <span class=\"breadcrumb_last\" aria-current=\"page\"><strong>Disney and Reliance Unite to Create \u20b970,352 Crore Media Powerhouse &#8211; CCI Nods<\/strong><\/span><\/span><\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On Wednesday, 28 August 2024, the Competition Commission of India (CCI) finally approved the merger of Disney Star and Viacom18. This merger has been long awaited, as two of the conglomerates are coming together. Disney Star is the domestic unit of The Walt Disney Company while Viacom18 is the media unit primarily held by Reliance Industries. Post this merger, India will get one of the largest media houses which will be worth over \u20b9 70000 crore or $8.5 billion. In the entertainment space, mergers of this size are rare and thus this one can create history.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-reliance-disney-merger-details-nbsp-nbsp\"><span class=\"ez-toc-section\" id=\"Reliance_%E2%80%93_Disney_Merger_Details\"><\/span><strong>Reliance \u2013 Disney Merger Details&nbsp;&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As per the agreement signed yesterday, Reliance Industries and its associates will hold 56% of the stakes, while Disney will hold 36.84% of the shares and Bodhi Tree will hold the remaining 7.5% of the stakes. Bodhi Tree is a joint venture of James Murdoch and Uday Shankar, Ex-Star India CEO. The overall value of this joint venture has been determined to be around \u20b9 70350 crore on a post-money basis. <strong>Reliance Industries<\/strong>, which will be the major stakeholder, will invest \u20b9 11500 crore in the venture to grow the newly formed entity. Court-approved arrangement to be followed when Viacom\u2019s media operations will merge into Star India Pvt. Ltd.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-network-of-reliance-s-viacom18-amp-disney-nbsp\"><span class=\"ez-toc-section\" id=\"Network_of_Reliances_Viacom18_Disney\"><\/span><strong>Network of Reliance\u2019s Viacom18 &amp; Disney&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Currently, Reliance Industries\u2019 Viacom18 has a network of around 40 television channels. On the other hand, Disney Star runs around 80 channels in the country. The merger between the two will offer a media house offering the highest number of networks which is over 120 channels. On top of that, both Viacom18 and Disney Star have TV rights for all kinds of cricket matches. Viacom18 has BCCI\u2019s domestic and international cricket matches TV rights while Disney has rights for IPL, which is valid up to 2027. Another crucial benefit of this merger is that both the media giants have networks in multiple languages, catering to the demands of the people across the country. Reliance\u2019s Jio Cinema along with Disney\u2019s Hotstar can have a library of more than 200000 hours of content, which range from basic television drama to reality shows, web series, movies, sports, and everything that one can imagine in the entertainment space. With the local and \u2018Desi\u2019 content, users can enjoy international\/ global movies such as Marvel Universe, and National Geographic Documentaries as well.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-cci-approval-was-necessary\"><span class=\"ez-toc-section\" id=\"Why_CCI_approval_was_necessary\"><\/span><strong>Why CCI approval was necessary?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">With Reliance\u2019s Viacom18 and <strong>Disney acquisition<\/strong>, the total market share of this combined entity would surpass 40% of the overall entertainment market, while it can have a monopoly in certain segments as well. This can lead to reduced competition in the industry and may lead to excessive dominance by this entity, which is not healthy for the overall market and the investors. This is why <strong>CCI<\/strong> had to intervene and scrutinize the entire deal. The <strong>Competition Commission of India<\/strong> approved the<strong> Walt Disney and RIL merger <\/strong>post verifying and analyzing all the aspects and the market and added voluntary clauses in the agreement to make the deal a fair one for the entities involved and the other competitors in the industry. However, the clauses added by CCI are yet to be disclosed to the public. Reliance and Disney submitted the papers for the mergers in February. After a long scrutiny process, finally, CCI finally approved the proposal. However, both the companies were confident enough about the <strong>CCI\u2019s approval<\/strong>, as it earlier approved Zee and Sony to merge as well (this merger has been canceled now though), obviously following certain guidelines and conditions.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-next-after-cci-approval\"><span class=\"ez-toc-section\" id=\"What_next_after_CCI_Approval\"><\/span><strong>What next after CCI Approval?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As now Reliance and Disney get the nod from the competition watchdog, the next step would be initiating the integration process. Some of the other approvals are pending from the National Company Law Tribunal (NCLT) and Ministry of Information &amp; Broadcasting (MIB), which are expected by mid-September 2024. Once these approvals come, the integration process will begin. Both companies have clearance from their lenders and creditors, which was also a crucial part of the entire procedure.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As the integration process starts, the companies will determine each of the verticals of the business, assess the requirements to develop each of the departments, and segments, and also set up the organizational structure for the entity and select the key managerial personnel (KMP). The list of KMP is already created and the companies are waiting for the other approvals before announcing the names. The <strong>merger activities <\/strong>should also not take very long and are expected to be over within a few months.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-wrapping-up-nbsp\"><span class=\"ez-toc-section\" id=\"Wrapping_up\"><\/span><strong>Wrapping up&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This <strong>merger &amp; acquisition<\/strong> can turn around the entertainment industry in the country. Mergers of this size have not been recently seen in the market, especially in the entertainment industry. Now all eyes are on NCLT and MIB approvals, and the integration process to kick in.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Source: <a href=\"https:\/\/www.livemint.com\/companies\/news\/cci-gives-nod-to-70-350-crore-reliance-disney-india-merger-11724845504342.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">TheLiveMint<\/mark><\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">______________________________________________________________________________________<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Disclaimer<\/mark>:<\/strong> Investments in the securities market are subject to market risks; read all the related documents carefully before investing.<\/p>\n\n\n\n<p 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This merger has been long awaited, as two of the conglomerates are coming together. Disney Star is the domestic unit of The Walt Disney Company while Viacom18 is the media unit primarily held by Reliance &hellip; <a href=\"https:\/\/shoonya.com\/blog\/competition-commission-of-india\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Disney and Reliance Unite to Create \u20b970,352 Crore Media Powerhouse &#8211; CCI Nods&#8221;<\/span><\/a><\/p>\n","protected":false},"author":16,"featured_media":8663,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[2241,1082],"tags":[4950,4949,4952,4958,4954,4955,4956,4957,4951,4953],"class_list":["post-8662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","category-latest-news","tag-cci","tag-competition-commission-of-india","tag-disney-acquisition","tag-media-assets","tag-merger-activities","tag-mergers-acquisitions","tag-reliance-industries","tag-reliance-industries-merger","tag-walt-disney-and-ril-merger","tag-walt-disney-merger"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CCI Approves Disney-Reliance \u20b970,352 Crore Media Merger<\/title>\n<meta name=\"description\" content=\"Reliance and Disney Merger finally got the nod from the Competition Commission of India. The merged entity can become the biggest media network with 120+ channels, and \u20b9 70000 crore value.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shoonya.com\/blog\/competition-commission-of-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CCI Approves Disney-Reliance \u20b970,352 Crore Media Merger\" \/>\n<meta property=\"og:description\" content=\"Reliance and Disney Merger finally got the nod from the Competition Commission of India. The merged entity can become the biggest media network with 120+ channels, and \u20b9 70000 crore value.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/shoonya.com\/blog\/competition-commission-of-india\/\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ShoonyaApp\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-29T09:38:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-26T11:10:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/shoonya.com\/blog\/wp-content\/uploads\/2024\/08\/Disney-Reliance-Mega-Merger.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CCI Approves Disney-Reliance \u20b970,352 Crore Media Merger\" \/>\n<meta name=\"twitter:description\" content=\"Reliance and Disney Merger finally got the nod from the Competition Commission of India. The merged entity can become the biggest media network with 120+ channels, and \u20b9 70000 crore value.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/shoonya.com\/blog\/wp-content\/uploads\/2024\/08\/Disney-Reliance-Mega-Merger.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@shoonyaapp\" \/>\n<meta name=\"twitter:site\" content=\"@shoonyaapp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/competition-commission-of-india\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/competition-commission-of-india\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/#\\\/schema\\\/person\\\/f136efa6e9f6500d1b76595131564b8a\"},\"headline\":\"Disney and Reliance Unite to Create \u20b970,352 Crore Media Powerhouse &#8211; CCI Nods\",\"datePublished\":\"2024-08-29T09:38:00+00:00\",\"dateModified\":\"2026-05-26T11:10:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/competition-commission-of-india\\\/\"},\"wordCount\":830,\"image\":{\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/competition-commission-of-india\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Disney-Reliance-Mega-Merger.jpg\",\"keywords\":[\"cci\",\"competition commission of India\",\"disney acquisition\",\"media assets\",\"merger activities\",\"mergers &amp; acquisitions\",\"reliance industries\",\"reliance industries merger\",\"walt disney and ril merger\",\"walt disney merger\"],\"articleSection\":[\"General\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/competition-commission-of-india\\\/\",\"url\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/competition-commission-of-india\\\/\",\"name\":\"CCI Approves Disney-Reliance \u20b970,352 Crore Media Merger\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/competition-commission-of-india\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/competition-commission-of-india\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Disney-Reliance-Mega-Merger.jpg\",\"datePublished\":\"2024-08-29T09:38:00+00:00\",\"dateModified\":\"2026-05-26T11:10:27+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/#\\\/schema\\\/person\\\/f136efa6e9f6500d1b76595131564b8a\"},\"description\":\"Reliance and Disney Merger finally got the nod from the Competition Commission of India. 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