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The Competition Commission of India (CCI) on Tuesday published the 48-page detailed order approving the mega media assets merger of Reliance Industries and Walt Disney, entailing various conditions, including divestment of seven TV channels.
As part of seeking the regulator's approval, the parties have voluntarily agreed that they will not bundle TV ad slots for IPL, ICC and BCCI cricketing rights till the end of existing rights.
Also, the parties will sell seven TV channels, including Hungama and Super Hungama.
Among other conditions, the companies have voluntarily agreed that they will not bundle together the TV ad slot sales for all three cricketing rights available with them -- IPL, ICC and BCCI -- for the remaining tenure of the existing rights.
"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 48-page order said.
The parties have given an undertaking that they will not increase the advertisement rates to an unreasonable level on their TV and streaming platforms for the ICC and IPL events till the current rights are held by them.
On August 28, CCI said it had approved the merger of media assets of Reliance Industries and The Walt Disney Co to create the country's largest media empire worth over Rs 70,000 crore.
The deal, announced earlier this year, had faced scrutiny by the anti-trust regulator, and the approval has come after the parties proposed certain modifications to the original transaction structure.
(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed)
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