Star India’s merger has received the approval of CCI and NCLT
A big news is coming related to the merger of Disney and Viacom18. Reliance Foundation Chairperson Nita Ambani and Reliance Jio Infocomm Chairman Akash Ambani have joined the board of directors of Viacom18. Sources have given this information. This change has been made in Viacom18 before the merger of Viacom18 with the Indian business of global media giant Walt Disney.
Star India’s merger has received the approval of CCI and NCLT
Viacom18 is a holding company that owns the media and entertainment business of billionaire businessman Mukesh Ambani-led Reliance Industries and Bodhi Tree Systems. The merger of Walt Disney and Viacom18-owned Star India has received regulatory approval from the Competition Commission of India (CCI) and the National Company Law Tribunal (NCLT).
These people also got a place in the board of Viacom18
Mohammed Ahmed Al-Hardan, head of technology, media and telecoms at Qatar Investment Authority (QIA), a major investor in Bodhi Tree, and its co-sponsor James Murdoch are also joining the board following the restructuring. In addition, Jyoti Deshpande, president of media and content business at RIL, and Shuva Mandal, partner at Anagram Partners, have also been appointed to the board of Viacom18.
NCLT had approved the merger last month
Let us tell you that in August last month, the National Company Law Tribunal (NCLT) approved the merger plan of Reliance Industries-owned Viacom18 Media with Star India. Viacom18 is the holding company of the group’s media and entertainment assets. A two-member bench of NCLT approved the joint arrangement plan between Viacom18, Digital18 and Star India, a unit of global media giant The Walt-Disney.
With PTI inputs..
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