The Competition Commission of India (CCI) approved the deal between Reliance and Disney's entertainment business in August 2024. Apart from the CCI, the deal was also approved by the anti-trust authorities of the European Union, China, Turkey, South Korea and Ukraine. Now both the companies have announced the effect of this merger agreement. Reliance Industries, Viacom 18 Media and Walt Disney Company said on November 14 that after getting approval from NCLT Mumbai, Competition Commission of India and other regulatory authorities, the merger of Viacom 18's media and JioCinema businesses with Star India became effective. Apart from this, RIL also invested Rs 11,500 crore (US$ 1.4 billion) in the joint venture after the merger. The joint venture has allotted shares to Viacom 18 and Reliance (RIL) in exchange for assets and cash respectively. The transaction values the joint venture at Rs 70,352 crore (US$8.5 billion). Post the transaction, RIL will retain control of the joint venture with RIL owning 16.34%, Viacom18 46.82% and Disney 36.84%.
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