India's competition watchdog approves Disney, Reliance merger deal

By Tuba Ongun

ANKARA (AA) – The Competition Commission of India (CCI) has approved the $8.5 billion merger deal between Reliance Industries and Disney for their Indian media assets.

The approval is subject to the compliance of voluntary modifications to be implemented by the parties involved, the CCI said in a statement on Wednesday.

The merger was first announced in February to establish one of India's most extensive TV and digital streaming platforms.

As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited through a court-approved scheme of arrangement.