NCLT approves merger of Reliance & Disney Star
A few days after the Competition Commission of India (CCI) gave its nod to the merger of media assets between Reliance Industries and The Walt Disney Co., the National Company Law Tribunal (NCLT) has also approved the composite Scheme of Arrangement. This development clears the path for the creation of India’s largest media empire, valued at over Rs 70,000 crore.
In its assessment, the NCLT stated, “From the material on record, the Scheme appears to be fair and reasonable and is not violative of any provisions of law and is not contrary to public policy.” The tribunal’s 22-page order further noted that the scheme would only take effect upon receiving approval from the CCI, ensuring that all regulatory checks are satisfied.
The approved scheme outlines the transfer and vesting of Media Operations Undertaking from Viacom 18 and JioCinema into Digital 18, a subsidiary of Viacom 18. This will be followed by the “demerger, transfer, and vesting of V18 Undertaking from Digital 18 into Star India.” This restructuring is expected to consolidate and streamline the media assets, creating a formidable entity in India’s entertainment and media landscape.
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This merger represents a significant shift in the Indian media industry, combining the strengths of two powerful players—Reliance and Disney—to form a media giant with extensive reach and resources. As the process moves forward, the new entity is poised to reshape the future of media and entertainment in the country.
