The Competition Commission of India (CCI) has approved the $8.5 billion merger between Reliance Industries and Walt Disney India's media assets. To secure approval, the companies agreed to divest 7-8 non-sports TV channels, mainly regional, and cap advertisement prices for streamed cricket matches.
This merger aims to create a powerful entertainment entity to compete with Amazon, Netflix, and Sony Pictures Networks. Both companies hold lucrative cricket broadcast rights, with Reliance's Viacom18 covering domestic and international matches and Disney retaining IPL TV rights until 2027.