NCLT approves Viacom18 and Star India deal.
On Friday, the NCLT approved the restructuring plan for a merger between Viacom18 Media Private Limited and Star India Private Limited.
On Friday, a bench consisting of Smt. Anu Jagmohan Singh and Mr. Kishore Vemulapalli from the National Company Law Tribunal (NCLT) approved the restructuring deal between Viacom18 Media Private Limited and Star India Private Limited, paving the way for their eventual merger. The agreement, signed in late February, involves merging Viacom18, a unit of Reliance Industries (RIL), with Star India.
According to the approved plan, Viacom18 will transfer its media operations and Jio Cinema assets to its subsidiary, Digital18 Media Limited. Digital18 will then demerge its V18 media operations into Star India. This strategy aims to streamline media assets and enhance operational efficiency.
Earlier this year, the restructuring plan received backing from both Viacom18’s and Star India’s boards. The NCLT’s approval follows a period of regulatory review with no objections from entities such as the Regional Director and the Income Tax Department. The next step involves seeking additional approvals from the Competition Commission of India and the Ministry of Information and Broadcasting, focusing on channel transfers and regulatory compliance.
The deal is anticipated to fortify Star India's position in the broadcasting and streaming sectors, generating significant synergies and increasing shareholder value.
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