Mukesh Ambani, India’s richest man with a net worth of Rs 975,906 crore, is awaiting antitrust clearance for his massive Rs 707,780,000,000 merger with Disney India. The deal, which has received a thumbs up from the National Company Law Tribunal (NCLT), aims to create a Rs 70,000 crore behemoth in the media industry. Reliance and Disney have sought clearance from the Competition Commission of India (CCI), claiming that their combined power will not harm advertisers.

Experts have expressed concerns that the merged entity may have significant leverage over advertisers and consumers due to its control over digital and TV cricket rights for the Indian Premier League (IPL) and International Cricket Council (ICC) matches. However, the companies have assured that the cricket rights were obtained separately under a competitive bidding process and that competitors can bid when those rights expire in 2027 and 2028.

Reliance, owned by Mukesh Ambani, disclosed during the transaction announcement that it would invest Rs. 11,500 crore in the massive media company. Following completion, the united Star-Viacom18 company will control two streaming services, JioCinema and Disney+ Hotstar, in addition to more than 100 TV channels. Nita Ambani, the wife of Mukesh Ambani, will serve as the new organization’s chairperson. Uday Shankar, a seasoned media professional, will support her as vice-chairperson.

The companies informed CCI that the cricket rights were won individually through a competitive bidding process. The corporations think that since they will be able to bid when those rights expire in 2027 and 2028, the competitors won’t be negatively impacted. “The confidential filing will now be reviewed by the CCI. Even though any clearance usually takes a few weeks, if the watchdog isn’t happy and requests additional information, it may take longer. Reuters stated in their article.

Read More: Click here