Reported 5 months ago
Reliance Industries and Walt Disney have applied for antitrust approval in India for their $8.5 billion media merger, emphasizing that their combined influence, particularly in cricket broadcasting, will not adversely affect advertisers. The deal is expected to create India's largest entertainment entity with significant cricket rights. The companies have assured the Competition Commission of India that the cricket rights were acquired through a competitive bidding process and that competitors can bid for these rights when they expire in 2027 and 2028. The CCI will now review the filing, which typically takes several weeks but could be extended if more information is required. The merger is anticipated to reshape India's media market, where the combined entity will face competition from other major players like Netflix, Amazon Prime, Zee Entertainment, and Sony.
Source: YAHOO