India’s Competition Commission of India (CCI) has given the green light to the $8.5 billion merger between Reliance Industries Limited (RIL) and Walt Disney Co’s Indian media assets¹². The deal, subject to specific voluntary modifications, will create a new joint venture (JV) combining key media and entertainment assets. Here are the highlights:

1. Strategic Alliance: The merger aims to create India’s largest entertainment entity, positioning it against rivals such as Sony, Netflix, and Amazon. The combined entity will have a portfolio of 120 TV channels and two streaming services.
2. Cricket Broadcasting Concerns: Earlier this month, the CCI expressed concerns about the merger potentially leading to excessive control over cricket broadcasting rights and adversely affecting advertisers. In response, Reliance and Disney proposed concessions, including pledges not to unreasonably increase advertising rates for streamed cricket matches.
3. Ownership: Following the merger, the combined entity will be predominantly owned by Mukesh Ambani’s Reliance Industries.

The merger is expected to close in the coming months. It is part of Reliance’s broader ambitions to expand its digital business and become a major player in the global media and entertainment industry.

This landmark merger is set to reshape India’s media landscape, with implications for content distribution, advertising, and streaming services³. Stay tuned for further developments! 🎉📺