NCLT Approves Viacom18-Star India Merger, Forming Rs 70,000 Cr Media Giant

A two-member bench of the National Company Law Tribunal has cleared the scheme of amalgamation amongst Viacom 18 Media-Reliance Industries-owned company that manages the conglomerate’s media and entertainment properties, with Star India. The NCLT, in a two-member bench, has cleared the comprehensive arrangement amongst Viacom 18, Digital18, and Star India, a subsidiary of the global media powerhouse The Walt Disney Company.

The announcement comes within two days after the approval by the Competition Commission of India of the merger between the media assets of Reliance Industries and The Walt Disney Company to form the largest media empire in the country, with a valuation of over Rs 70,000 crore.

“From the material on record, the scheme appears to be fair and reasonable and is not violative of any provisions of law and is not contrary to public policy,” said NCLT in its order.

The Reliance-Disney JV will be direct competition for Sony, Netflix, and Amazon comprising 120 television channels along with two streaming platforms.