Disney-Reliance $8.5 Billion Merger Approved, Set To Form India’s Largest Entertainment Giant

Walt Disney Co. and Reliance Industries have secured approval from India’s antitrust regulator for an $8.5 billion merger of their Indian media assets, with some modifications.

The deal, which sparked concerns over control of cricket broadcasting rights, is set to create India’s largest entertainment conglomerate, poised to compete with giants like Sony, Netflix, and Amazon through 120 TV channels and two streaming services.

Earlier this month, the Competition Commission of India (CCI) expressed concerns that the merger could lead to a dominant hold on cricket broadcasting, potentially harming advertisers.

In response, the companies offered concessions, including a commitment not to raise advertising rates unreasonably for streamed cricket matches.

The CCI has now granted approval for the merger but has not provided further details.

The merged entity will be majority-owned by Reliance, controlled by Asia’s richest man, Mukesh Ambani. The CCI reportedly questioned Reliance and Disney extensively, with around 100 queries related to the merger.