CCI Approves Reliance-Disney Merger in $8.5 Billion Deal

• CCI greenlights Reliance-Disney merger valued at Rs 70,350 crore, subject to voluntary modifications
• RIL to hold 16.34%, Viacom18 46.82%, and Disney 36.84% in the new entity
• Joint venture to create media powerhouse with 120 TV channels and two streaming platforms
• Combined content library to exceed 200,000 hours of TV dramas, movies, and sports events
• Merger expected to finalize between Q4 2024 and Q1 2025, rivaling Sony, Netflix, and Amazon in India

Source: The Arc