According to media source,At the company’s annual general meeting (AMG) on August 29, Reliance Industries (RIL) Chairman Mukesh Ambani welcomed Disney into the company’s family and declared that this entry signified the start of a new era in India’s entertainment sector.
As per media reports,The Competition Commission of India (CCI) on Wednesday approved the merger of media assets of Reliance Industries and The Walt Disney Co to create the country’s largest media empire worth over Rs 70,000 crore. The deal, announced six months ago, faced scrutiny by the anti-trust regulator and the approval has come after the parties proposed certain modifications to the original transaction structure.Viacom18 is part of the RIL group, and SIPL is wholly-owned by The Walt Disney Company. STPL, a company incorporated in the British Virgin Islands, is owned indirectly by The Walt Disney.The CCI, however, did not disclose voluntary modifications in the original deal made by the two parties.
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