Breaking Reliance and Disney Announce Strategic Joint Venture

[Aksgr]

NCLT sets the ball rolling on merger of Reliance's arm Viacom18 and Star India

The merger scheme has two stages: the transfer of Viacom18's TV and streaming assets to Digital18 and the demerger and vesting of these assets from Digital18 to Star India. As consideration for the scheme, Viacom18 will transfer streaming platform JioCinema to Digital18, which will pay the...

economictimes.indiatimes.com

 

[Aksgr]

Viacom 18 & Disney star Merger plan
Phase 1:
Viacom 18 assets will be transferred to a new company called Digital 18. followed by Viacom brand exit from India.
Expected deadline- End of Q2 2024 or early Q3 2024

Phase 2:
Star India will later absorb Digital 18 into it with a share swap of Disney (36.63 per cent), Digital18 (46.11 per cent), and RIL (16.34 per cent).
Expected deadline - Q4 2024

Phase 3:
repurpose of COI (Conflict of interest) Business aligning with CCI.
Expected deadline - Q1 2025

Phase 4:
New Company takeover
Expected Deadline - Q1 2025 - Q1 2026

 

[Funkyboyhas]

It has also directed the companies to serve notices along with a copy of the merger scheme to the central government through the offices of the regional director (western region), Mumbai, the Registrar of Companies, the income tax authority, the goods & services tax authorities, the Competition Commission of India (CCI), the ministry of corporate affairs and other sectoral and regulatory authorities.

The bench stated that if authorities don't respond to notices within 30 days, it will be assumed that they don't have any objections to the proposed scheme.

Ashish K Singh, managing partner of law firm Capstone Legal, said the order is an important procedural step towards the merger. In addition to calling a meeting of creditors and members of both companies, NCLT has directed that tax authorities may also be informed about the proposed merger. This step is likely to take around 30 days.

 

[Sparker0i]

So many overlapping channels and yet there's no objection by the CCI on the combined market share??

 

[Aksgr]

So many overlapping channels and yet there's no objection by the CCI on the combined market share??

It hasnt yet gone till CCI yet

 

[Kiran Visal]

Excited for Anupama, Balika Vadhu crossover epidose.