Aug 28 (PTI) The Competition Commission of India on Wednesday approved the merger of media assets of Reliance Industries and The Walt Disney Co to create the country's largest media empire worth over Rs 70,000 crore.
The deal, announced six months ago, faced scrutiny by the anti-trust regulator and the approval has come after the parties proposed certain modifications to the original transaction structure. In a post on X, the regulator said it has cleared the "proposed combination involving Reliance Industries Limited, Viacom18 Media Private Limited, Digital18 Media Limited, Star India Private Limited and Star Television Productions Limited, subject to the compliance of voluntary modifications".
Viacom18 is part of the RIL group, and SIPL is whollyowned by The Walt Disney Company. STPL, a company incorporated in the British Virgin Islands, is owned indirectly by The Walt Disney.
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