Viacom18-Star India Merger on Track for October

2 Aug 2024 , 09:13 AM

ET reported that Viacom18, promoted by Reliance Industries, and Walt Disney-owned Star India plan to complete their merger by October, when the Competition Commission of India (CCI) is also anticipated to publish its order.

The merger between Star and Viacom18 has already been referred to the National Company Law Tribunal (NCLT) for final decision. The merger, announced on February 28, is expected to win the NCLT green light after creditors and shareholders of both companies accepted it.

“The most significant impediment to the merger proposal is CCI approval. Once the competition inspector approves the merger, it will be more or less completed. “The expectation internally is that the CCI approval will come in October,” said one of the officials monitoring the situation, according to ET.

As part of its investigation into the merger’s potential impact on the competitive landscape, CCI has begun contacting other broadcasters, streaming services, TV distributors, and advertisers.

The merger will make Star-Viacom18 the largest sports company in the world, with properties like the Indian Premier League, India International Bilateral Cricket, International Cricket Council, Indian Super League, and Pro Kabaddi League.

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