CCI gives nod to $8.5 bn Disney-Reliance media assets merger deal

Walt Disney Co and Reliance Industries have won approval for an $8.5 billion merger of their Indian media assets subject to some modifications, India’s antitrust watchdog said on Wednesday, after the deal sparked concerns over control of cricket broadcasts.

Reliance-Disney aims to create India’s biggest entertainment player to compete with Sony, Netflix and Amazon with 120 TV channels and two streaming services.