Reliance Industries, under the leadership of Mukesh Ambani, has taken steps towards seeking approval for an $8.5 billion merger between Viacom18 and Star India Pvt Ltd from the Competition Commission of India (CCI). The merger, if approved, would bring together the entertainment divisions of Viacom18, a branch of Reliance Industries Ltd, and Star India Pvt Ltd, which is fully owned by The Walt Disney Company (TWDC).
As part of the proposed transaction, Star India Pvt Ltd, which is currently entirely owned by TWDC through its subsidiaries, would transition into a joint venture jointly held by Reliance Industries Ltd, Viacom18, and existing TWDC subsidiaries. In the filing made with the CCI, it was stated that the merger would not result in any significant adverse effects on competition in India, according to Reliance Industries.
To assist the CCI in its evaluation process, the companies involved have pinpointed key areas of overlap in various markets, such as the licensing of audiovisual content rights, broadcast TV channel distribution, provision of AV content, and advertising space supply in India. The media activities of Star India Pvt Ltd encompass TV broadcasting, motion pictures, and the operation of an OTT platform, while Viacom18 is primarily involved in television channel broadcasting, OTT platform operations, and motion picture production and distribution.