The National Company Law Tribunal (NCLT) Mumbai has listed the final hearing for the merger plea of Disney’s Star India and Reliance’s Viacom18 on August 1st.
The NCLT has ordered a final hearing on August 1st to decide whether to sanction the merger scheme between Star India and Viacom18.
Both parties have been asked to issue fresh notices of the final hearing to state and central governments, tax authorities, and regulatory bodies like the Competition Commission of India (CCI) and the Ministry of Information and Broadcasting.
No Objections, If the authorities do not respond within 30 days of receiving the notice, it will be assumed that they have no objections to the scheme.
After the NCLT sanctions the scheme, the parties will need to obtain clearance from the CCI due to the potential impact of the merger on the broadcasting and streaming businesses.
Impact on the Indian Media Landscape:
The merger is expected to have a significant impact on the Indian media landscape by creating a major player in the broadcasting and streaming space. The combined entity will have a vast reach across television, digital platforms, and film production.
The merger between Star India and Viacom18 has been under scrutiny due to its potential to significantly alter the landscape of the Indian media and entertainment industry.
The NCLT’s decision on August 1st will be crucial in determining the future of this high-profile merger.
The merger between Star India, owned by Disney, and Viacom18, owned by Reliance Industries, is a significant development in the Indian media and entertainment landscape. This merger aims to create a formidable entity that can compete effectively in the rapidly evolving digital streaming and broadcasting markets.
Overall, the merger between Star India and Viacom18 is a significant development with the potential to reshape the Indian media and entertainment industry. However, the success of the merger will depend on obtaining regulatory approvals and addressing potential challenges related to competition and market dominance.