- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Mukesh Ambani's Reliance and Disney's Rs 71000 crore merger faces scrutiny, CCI sends...
RIL and Walt Disney, in a confidential submission to CCI, had clarified that the merger would not hurt the competition and that cricket rights would expire in 2027 and 2028.
Updated : Jul 23, 2024, 12:48 PM IST | Edited by : Riddhima Kanetkar
 "Mukesh Ambani's Reliance and Disney's Rs 71000 crore merger faces scrutiny, CCI sends...")
TRENDING NOW
)
Meet IAS officer, aka 'Collector Bro', who cracked UPSC exam in 2007, now suspended due to...
)
After Sushmita Sen declares she is single, Rohman Shawl's statement goes viral: 'Voh to 6 saal se...'
)
Meet star with no hit films, still earns Rs 5 lakh a month, is more famous than Aishwarya, Amitabh, Kareena, Ram Charan
)
Pakistani TikTok star Minahil Malik's dance video goes viral amid MMS leak controversy, watch
)
Badshah lands in legal trouble, case registered against rapper for...
)
'Der ho gayi...': Amitabh Bachchan posts cryptic tweet amid Abhishek Bachchan and Aishwarya Rai's divorce rumours
)
Kanguva box office collection day 1: Suriya, Bobby Deol film fails to beat Indian 2, Vettaiyan; earns Rs...
)
Shah Rukh Khan, Aamir Khan refused to work with Aishwarya Rai in this film, it became blockbuster, won 4 National Awards
)
'I haven't liked...': Abhishek Bachchan's statement on Aishwarya Rai's cooking goes viral amid divorce rumours
)
Shahid Kapoor, wife Mira Kapoor rent out their Rs 580000000 luxury Mumbai apartment for Rs...
)
Internet fuming over BIZZARE fan reaction in Diljit Dosanjh concert, netizens say, 'better if asteroid hit earth'
)
Meet Imsha Rehman, Pakistani TikTok star who deactivated her accounts after video leak and Minahil Malik's MMS
)
7 times XXX, Gandii Baat actress Aabha Paul crashed the internet by flaunting her sexy curves
)
This actor is villain in Suriya's Kanguva 2; it's not Bobby Deol, Saif Ali Khan, Sanjay Dutt; his brother is superstar..
)
Bigg Boss 18: Avinash Mishra gets into ugly fight with Digvijay Rathee, pushes him with force, suffers injury after...
India's antitrust body, the Competition Commission of India (CCI), has sent over 100 queries to Mukesh Ambani-led Reliance Industries and Walt Disney about their $8.5 billion (over Rs 71000 crore approximately) India media assets merger. Sources told Reuters that antitrust experts have warned that the deal between Reliance and Disney, announced in February, could face severe scrutiny. One of the major reasons behind it is the deal creating India's biggest entertainment player with 120 TV channels and two streaming services.
The companies will also together own profitable rights for cricket, one of India's most popular sports.
For the unversed, the proposed mega-merger involves the combining of assets of billionaire Mukesh Ambani-led RIL’s Viacom18 and Walt Disney’s Star India.
RIL and Walt Disney, in a confidential submission to CCI, had clarified that the merger would not hurt the competition and that cricket rights would expire in 2027 and 2028.
Now, India's antitrust body is interested in seeking more details via two sets of questions - one is 'Why YouTube?' as it is a free, user-generated content service 'should be treated in likeness to Netflix and Disney'.
To this query, Reliance and Disney argued that YouTube also has licensed, paid content, as per Reuters sources.
In addition, the CCI has also asked Reliance and Disney for details on which of them owns which sports rights and the time for which they own them. It has also sought information on who had bid for them formerly.
"The CCI is so far not raising concerns on the rights but is gathering information," said one of the sources.
If the Reliance-Disney deal is green lit, it will forever change the $28 billion entertainment market of India.
Disney-Reliance is estimated to command 40% of the advertising market share in the TV and streaming segments.
(With Reuters inputs)
