NEW DELHI: The Competition Commission of India (CCI) granted conditional approval to the merger of Reliance Industries and Walt Disney 's media assets , including the divestment of seven television channels including Hungama and Super Hungama, as part of the agreement.
Both the companies have voluntarily agreed to refrain from bundling TV ad slots for IPL, ICC, and BCCI cricketing rights until the expiration of the current rights, as part of the approval process.
"The parties will not bundle together OTT ad slot sales for all three cricketing rights available with the parties i.e. IPL, ICC and BCCI for the balance tenure of the existing rights," the detailed order stated.
The companies have also agreed to not unreasonably increasing advertisement rates on their television and streaming platforms for ICC and IPL events for the duration of the current rights held by them.
CCI had previously announced its approval of the merger on August 28, which would result in the creation of India's largest media conglomerate, valued at over Rs 70,000 crore.
The deal, which was initially announced earlier this year, underwent scrutiny by the anti-trust regulator, and the approval was granted after the parties proposed certain modifications to the original transaction structure.
Both the companies have voluntarily agreed to refrain from bundling TV ad slots for IPL, ICC, and BCCI cricketing rights until the expiration of the current rights, as part of the approval process.
"The parties will not bundle together OTT ad slot sales for all three cricketing rights available with the parties i.e. IPL, ICC and BCCI for the balance tenure of the existing rights," the detailed order stated.
The companies have also agreed to not unreasonably increasing advertisement rates on their television and streaming platforms for ICC and IPL events for the duration of the current rights held by them.
CCI had previously announced its approval of the merger on August 28, which would result in the creation of India's largest media conglomerate, valued at over Rs 70,000 crore.
The deal, which was initially announced earlier this year, underwent scrutiny by the anti-trust regulator, and the approval was granted after the parties proposed certain modifications to the original transaction structure.
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