Brief by Shorts91 Newsdesk / 04:40pm on 29 Aug 2024,Thursday Business
India's competition watchdog has provisionally approved an $8.5bn merger between Disney and Reliance Industries, creating the country's largest entertainment company. The venture, led by billionaire Mukesh Ambani, will hold the majority of broadcasting rights for key sports events, including cricket. The deal, which is expected to be finalized in six months, will be chaired by Nita Ambani. Concerns about control over cricket broadcasting were addressed, with the companies pledging not to raise advertising rates excessively. The merger will also give them rights to other major events like Wimbledon and the English Premier League.
