In a landmark decision, the National Company Law Tribunal (NCLT) in Mumbai has sanctioned the merger between Reliance Industries’ Viacom18 and Disney’s Star India, signaling a seismic shift in India’s media landscape. This newly minted media giant is poised to dominate both traditional television and the burgeoning digital streaming space.
With the NCLT’s approval, the combined entity is now on track to become India’s premier media conglomerate, boasting a valuation exceeding ₹70,000 crore. The merger had previously received clearance from the Competition Commission of India (CCI), following adjustments to the original deal structure to satisfy regulatory demands.
The merger will amalgamate Reliance’s vast media assets, including TV18’s extensive news and entertainment channels and the popular OTT platform Jio Cinema, with Star India’s robust portfolio. This union will establish a dual-streaming powerhouse, featuring Disney Hotstar and Jio Cinema, primed to lead the charge in India’s digital entertainment revolution.
However, the NCLT has outlined specific conditions for this merger. Notably, the Ministry of Information and Broadcasting must approve the transfer of TV channels from Viacom18 to Star India. Additionally, the companies involved are required to submit the NCLT order to the Registrar of Companies within 30 days and fulfill any stamp duty obligations within 60 days.
This merger, originally announced six months ago, is expected to be finalized by late 2024 or early 2025, marking a new era for India’s media industry.
