Approval of Proposed Combination by Competition Commission of India
Date: 29 AUG 2024
The Competition Commission of India (CCI) has granted approval to the proposed combination involving the following entities:
- Reliance Industries Limited (RIL)
- Viacom18 Media Private Limited (Viacom18)
- Digital18 Media Limited
- Star India Private Limited (SIPL)
- Star Television Productions Limited (STPL)
The proposed combination seeks to integrate the entertainment businesses of Viacom18, a part of the RIL group, and SIPL, which is wholly owned by The Walt Disney Company (TWDC). As a result of this transaction, SIPL will transition from being a wholly owned entity of TWDC to a joint venture (JV) jointly held by RIL, Viacom18, and existing TWDC subsidiaries.
Business Activities of the Involved Entities
- RIL: Engaged in diverse businesses including exploration and production of oil and gas, petroleum refining and marketing, petrochemical manufacturing and sales, organized retail, media and entertainment activities, and telecommunications and digital services in India and globally.
- Viacom18: Involved in television channel broadcasting, operation of an OTT platform, commercial advertisement space sales on TV channels, licensing of merchandise, organization of live events, production and distribution of motion pictures, both in India and worldwide.
- SIPL: Engaged in TV broadcasting, production of AV content and motion pictures, operation of an OTT platform, and selling commercial advertisement space on TV channels and OTT platforms.
- STPL: A company incorporated in the British Virgin Islands and indirectly owned by TWDC.
The Commission’s approval of the proposed combination is contingent upon the fulfillment of voluntary modifications.
This signifies a significant development in the media and entertainment sector, as well as the business landscape in India, pending compliance with the specified modifications.
