The merged company would have lucrative rights worth billions of dollars for the broadcast of cricket on TV and streaming platforms.
It is the biggest setback so far to the planned Disney-Reliance merger which aims to create India's biggest entertainment player which will compete with Sony, Zee Entertainment, Netflix and Amazon with a combined 120 TV channels and two streaming services. Reliance, Disney and the CCI did not respond to requests for comment. All sources declined to be named as the CCI process is confidential.
But they had refused to relent on cricket, telling the CCI that broadcast and streaming rights will expire in 2027 and 2028 and cannot be sold right now, and that any such move would require the cricket board's approval, which could delay the process. "This is a precursor of things getting complicated ... The notice means that initially the CCI thinks the merger harms competition and whatever concessions offered are not enough," added the person.
Jefferies has said the Disney-Reliance entity will have a 40% share of the advertising market in TV and streaming segments.
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Source: CNBC - 🏆 12. / 72 Read more »