New Delhi: Another big deal of India's richest industrialist Mukesh Ambani has now been finalized. Reliance Group has been trying to buy Disney's Star India business for a long time to increase its dominance in OTT and media in the coming time. This deal of Reliance-Disney has now been finalized by the Competition Commission of India (CCI).

Deal done to sell 7 television channels.

However, CCI has also put a condition before Reliance to sell its 7 channels. CCI gave a detailed decision in this regard on Tuesday. A few months ago, it had expressed concern about the threat of monopoly in the market due to this deal and had also issued show-cause notices to both the companies. This deal is likely to have the biggest impact on the broadcasting rights of cricket tournaments in the country and its advertising rights and cost.

48 pages long order

Now CCI has mentioned in detail some of the conditions of the deal related to the merger of media assets of Reliance Industries and Walt Disney in its 48-page order. This also includes the condition of selling 7 television channels of the company. This includes channels like Hungama and Super Hungama.

To obtain CCI's approval, the concerned parties have voluntarily agreed that they will not associate the sale of TV advertising slots with IPL, ICC, and BCCI cricket rights for the remaining period of the existing broadcast rights.

The concerned parties have told the Competition Commission that they will not increase advertising rates for ICC and IPL events on their TV and OTT platforms to unreasonable levels as long as they hold the existing broadcast rights.

Clearing the way for big media

On August 28, the CCI said it had approved the merger of Reliance Industries and The Walt Disney Company's media assets, i.e. Viacom 18 and Star India. This has cleared the way for the country's biggest media deal worth Rs 70,000 crore.

After the merger, the new company will have around 120 TV channels and 2 OTT platforms. However, it is expected that OTT platforms like Jio Cinema will be merged with Disney+ Hotstar.