Good news for Mukesh Ambani as his company secures Centre's approval for...

The Ministry of Information and Broadcasting on Saturday approved the transfer of television channels involved in the Reliance-Disney merger, led by Mukesh Ambani. This approval includes the transfer of licences for non-news and current affairs channels from Viacom18 Media to Star India. However, the merger must meet the conditions set by the Competition Commission of India (CCI).

The CCI is responsible for ensuring that this merger does not harm market competition or consumer interests. They will check that the merger doesn’t create a monopoly and that viewers continue to receive quality services at fair prices.

This merger is poised to significantly impact channel reach and popularity, encouraging greater competition and innovation within the Indian media sector. 

Reliance has been expanding its presence in the industry through Jio and Viacom18 and aims to strengthen its position further with this partnership with Star India. Initially, the CCI had concerns about the deal, leading to fears that approval might take longer, especially for a deal valued at around Rs 71,000 crore.

Currently, Reliance owns Viacom18, which operates the JioCinema streaming service, while Disney manages the Star India business and Disney+ Hotstar. Both companies hold important broadcasting rights for events like the IPL and ICC cricket matches.