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CCI, India's competition watchdog has approved Reliance Industries' acquisition of stake in Raghav Bahl's media companies Network 18 andTV18 Broadcast.
Earlier, The Independent Media Trust, a trust set up for the benefit of Reliance Industries Limited, had acquired the stake by subscribing to the optionally convertible debentures of companies controlled by Bahl.
The deal, being considered as one of the biggest in the media circuit, is expected to be around Rs 2,700 crore.�
According to a report published in The Economics Times, The Competition Commission of India states in its order that the assessment of competitive impact of the proposal was carried out to ascertain whether both groups are engaged in production, supply, distribution, storage, sale or trade of similar or identical or substitutable goods or services.
However, CCI noted that the deal would not have any adverse effects on the broadcasting market and new channels can be started with ease in the country given the scope of innovation and technology.
Via MediaMughals
Earlier, The Independent Media Trust, a trust set up for the benefit of Reliance Industries Limited, had acquired the stake by subscribing to the optionally convertible debentures of companies controlled by Bahl.
The deal, being considered as one of the biggest in the media circuit, is expected to be around Rs 2,700 crore.�
According to a report published in The Economics Times, The Competition Commission of India states in its order that the assessment of competitive impact of the proposal was carried out to ascertain whether both groups are engaged in production, supply, distribution, storage, sale or trade of similar or identical or substitutable goods or services.
However, CCI noted that the deal would not have any adverse effects on the broadcasting market and new channels can be started with ease in the country given the scope of innovation and technology.
Via MediaMughals
