CCI approves Reliance-Disney India $8.5 billion merger

The Competition Commission of India (CCI) has approved the merger between Reliance Industries Ltd (RIL) and Disney’s Indian media assets, thus paving the way for the creation of a $8.5 billion broadcasting empire that would be the largest in India in terms of reach and financial muscle.

The antitrust watchdog stated that the proposal is subject to the compliance of voluntary modifications. The proposed combination envisages combining the entertainment businesses (along with certain other identified businesses) of Viacom18,