The Competition Commission of India has approved the proposed merger between Reliance Industries Limited (RIL) and The Walt Disney Company's (TWDC) key entertainment assets in India, subject to voluntary amendments.

The deal, announced in February, will combine the entertainment businesses of Viacom18, part of billionaire Mukesh Ambani’s RIL group, with Star India Private Limited (SIPL), a wholly owned subsidiary of Disney. Post transaction, SIPL will become a joint venture of RIL, Viacom18 and existing subsidiaries of TWDC.

RIL, a diversified conglomerate founded by billionaire Mukesh Ambani, is bringing its media and entertainment portfolio. Viacom18’s assets include TV broadcasting, streaming platform JioCinema, ad sales, merchandising and film production and distribution.

SIPL is contributing its TV broadcasting arm, content production capabilities, streaming platform Disney+ Hotstar and advertising business to the merger. Star Television Productions Limited (STPL), a Disney entity based in the British Virgin Islands, is also part of the deal.