The Competition Commission of India (CCI) has approved the ₹70,350-crore merger between Reliance Industries and Disney’s Indian media assets, with certain voluntary modifications. This merger will create India’s largest entertainment entity, boasting 120 TV channels and two streaming services, positioning it to compete with industry giants like Sony, Netflix, and Amazon.
The approval comes just before Reliance’s AGM, where major announcements regarding Jio and Reliance Retail are expected. While the CCI did not specify the voluntary modifications, concerns had been raised about the merger’s impact on cricket broadcasting rights, particularly its potential to dominate advertising rates. Both companies have offered concessions to address these concerns, including commitments to maintain fair advertising practices.
The merger is expected to close within six months, pending further approvals from an Indian companies tribunal. The combined entity will also control Indian broadcast rights for major sporting events, including Wimbledon and the English Premier League.
Reliance and its affiliates will hold 63.16% of the merged entity, while Disney will retain 36.84%.
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