With Airtel's link-up with Apple in place, Reliance is progressing towards a partnership with Disney, creating India's largest entertainment company. On Wednesday, the Competition Commission of India (CCI) gave a green light to the humongous ₹70,000 crore Reliance-Disney merger to unite two of the most successful players in the entertainment business.

CCI posted the confirmation of the deal in X writing, "Commission approves the proposed combination involving Reliance Industries Ltd, Viacom18 Media Pvt Ltd, Digital18 Media Ltd, Star India Pvt Ltd and Star Television Productions Ltd, subject to the compliance of voluntary modifications."

Previously, CCI expressed concerns over the deal as the partnership would have monopoly control over broadcasting rights of Cricket and TV in India, which would hurt the advertisers. However, the company agreed to modifications suggested by CCI, which led to a clear path.

Reliance-Disney merger
Image Source: Remunance

Key Players in the Reliance-Disney Merger

The partnership will constitute all the involved parties in both firms, including Reliance Industries Limited (RIL), Viacom18 Media Private Limited (Viacom18), and Digital18 Media Limited, merging with The Walt Disney Company's (TWDC) Star India Private Limited (SIPL) and Star Television Productions Limited (STPL).

This $8 billion deal will bring 120 TV channels and two streaming platforms under one umbrella, making it India's largest entertainment firm. The two streaming platforms that once competed for the broadcasting rights of sports are now companions. This development hints that IPL will not have two broadcasting partners now.

Reliance-Disney merger
Image Source: Presentation Gov

Reliance is expected to hold the majority stake following the merger, with 63.16 per cent equity, while Walt Disney will enjoy the #6.84 per cent of the stakes. Reports suggest that Nita Ambani will be the Chairperson of the merged firm, while former Walt Disney executive Uday Shankar will take charge as Vice Chairperson.

The CCI has not yet disclosed the modifications to the deal. It is reported that the approval is conditional and depends on the adherence to "voluntary modifications." The official notice will disclose further details of the deal.

You might also be interested in - Reliance and Disney to form India’s largest media conglomerate through Viacom18-Star India merger