Massive Reliance-Disney merger cleared by India watchdog

The venture will form India's biggest entertainment player, competing with Sony, Netflix, and Amazon.

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The venture, in which billionaire Mukesh Ambani's Reliance Industries will have majority stake, will create India's biggest entertainment player which will compete with Sony, Netflix and Amazon.

The joint venture will enjoy broadcasting rights for a majority of India's sports events, including coveted cricket tournaments.

The merger is expected to be completed in the next six months and will be chaired by Mr Ambani's wife, Nita Ambani, according to reports.

The deal is “subject to the compliance of voluntary modifications", India's competition watchdog said in a press release on Wednesday.

https://www.bbc.com/news/articles/c7v5j5dern7o

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