The ₹23,000 crore (revenues FY24) venture, announced in February, was cleared by the Competition Commission of India (CCI) this week.
"The speed with which it has cleared regulatory hurdles is impressive," says Daoud Jackson, senior analyst, media and entertainment, Omdia.
While the CCI is yet to release its final order, here are five things you should know about the new entity and its place in the 2.3 trillion (2023) media and entertainment business.
What does the JV own?
"It is a giant hammer on everyone's coffin," says Kunal Dasgupta, founder iTap Entertainment and Gaming and former CEO of Sony.
The RIL-Disney combination will create a broadcaster with 110 channels such as Star Plus and Colors and a leading 32 per cent share of all television viewership on the back shows such as Bigg Boss and Anupama.
That is a hold over 285 million of the 890 million TV viewers, with large slices in Hindi, Marathi, Telugu and Bengali speaking markets.
According to Media Partners Asia (MPA), the duo will have 40 per cent share of the total revenue market for broadcasters and 45 per cent of the premium streaming market. Disney-Star has the digital and TV rights to all men's and women's events played under the International Cricket Council (ICC) from 2024 to 2027.
Viacom18 owns the streaming rights to the Indian Premier League or IPL.
Between them $9 billion has been paid for all cricket there is to broadcast or stream.
In a notice to the firms, CCI has questioned their almost 90 per cent viewership share in sports (cricket) on television and their ownership of the streaming rights as well.
This story is from the August 31, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 31, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
UP kicks off massive football infra upgrade
The Uttar Pradesh government planning develop is to 1,000 playgrounds and 18 stadiums to promote the state as a major football hub.
GPS data collection only on NHS, says govt amid privacy concerns
Amid concerns over data privacy in the proposed GPS-based toll collection system, also known as Global Navigation Satellite System (GNSS) toll collection, highways secretary Anurag Jain has clarified that data collection will only be limited to national highways.
LONELY IN THE CITY
Startups offering friendships, travel buddies, and companionship look to address loneliness, which WHO calls a public health concern
Margin woes, valuations to weigh on P&G Hygiene
From its highs over the past month, the stock of Procter & Gamble Hygiene and Healthcare fell 7 per cent before recovering this week.
Majority of Adani group stocks settle lower
As many as seven Adani group stocks ended lower on Friday as the Swiss authorities froze $311 million (2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of a money laundering probe, suspecting he may be a frontman from the group charge the conglomerate vehemently denied.
Sebi drops charges against NSE, former execs in colo case
Cites lack of evidence to support claims of collusion with OPG Securities
Growth, quality investing gain momentum, outdo value theme
The equity market is witnessing a significant shift in investment preferences, as 'growth' and 'quality' themes regain traction, outpacing the 'value' theme.
China raises retirement age for first time since '78
Move to help counter demographic headwinds, to be implemented voluntarily
Russia expels 6 UK diplomats over spying claims
Russia's FSB security service said on Friday it had revoked the accreditation of six British diplomats in Moscow after accusing them of spying and sabotage work, signalling the Kremlin's anger at what it sees as London's vital role in helping Ukraine.
I might be from the Mufti family but will have to earn my respect here'
It's 11 am on Saturday. Bijbehara, the family bastion of the Peoples Democratic Party (PDP) in southern Kashmir, is abuzz with loud songs and slogans blazing out of loudspeakers atop overcrowded load- carriers that follow a cavalcade of green fluttering vehicles. This is just another campaign day for ILTIJA MUFTI (pictured), a third-generation politician of the Mufti family contesting her maiden election. She is stepping into the shoes of her grandfather and PDP founder, Mufti Mohammad Syed, and mother, Mehbooba Mufti, both of whom started their political careers from the home seat of Srigufwara-Bijbehara. Following a door-to-door campaign, she speaks with Kaleem Geelani. Edited excerpts:
