The Competition Commission of India (CCI) has approved the pending merger of Reliance Industries (RIL), one of the country’s largest business conglomerates, with the media giant Disney’s wholly-owned Star India subsidiary.
The approval is subject to voluntary modifications of the deal that have not been disclosed.
Once completed, the merger will create an Indian media behemoth, bringing together the Star India linear broadcaster and Disney+ Hotstar streaming serviceRIL’s Viacom18 and OTT platform Jio.
Concerns had been raised in India that the merged organization would hold a level of dominance over cricket broadcast rights in the sport’s biggest market that would be anti-competitive, with the CCI having previously requested the two to give reasoning as to why they should be allowed to consolidate their properties.
It has been suggested that the merged body would have as much as 40% of the market share in India, with the two companies previously saying that “the joint venture (JV) will have over 750 million viewers across India.”
“The JV will also be granted exclusive rights to distribute Disney films and productions in India, with a license to more than 30,000 Disney content assets, providing a full suite of entertainment options for the Indian consumer.”
Viacom18 holds domestic streaming rights to the prestigious Indian Premier League (IPL) Twenty20 cricket tournament through 2027, as well as exclusive linear and digital rights to home Indian national and domestic cricket matches until March 2028.
Star, which holds International Cricket Council rights such as the ICC T20 World Cups, was the previous main rightsholder for both of these packages, showcasing how RIL and Viacom18 have been muscling in on Star’s portfolio in recent years.
The merger between Star and RIL is expected to be completed by the first quarter of the calendar year 2025 following legal approval.
Reliance Industries, controlled by billionaire Mukesh Ambani, will control over 60% of the new unit (16% directly and 47% via Viacom18), while Disney will control 37%.
