Disney, Reliance overcome cricket concerns to win approval for $8.5 billion India merger

and Reliance Industries won approval on Wednesday for an $8.5 billion merger of their Indian media assets after assuaging regulatory worries about their grip on broadcasting rights for cricket, India's favourite sport.

It will also give Reliance owner Mukesh Ambani, Asia's richest person, a stronger hold on the $28 billion media and entertainment sector. The regulatory nod comes a day before Ambani is set to address Reliance shareholders at its Annual General Meeting. Reliance and Disney have spent roughly $9.5 billion in recent years for TV and streaming rights for the world's richest cricket tournament, the Indian Premier League, the International Cricket Council's matches such as the one-day and T20 World Cups, and matches organised by the Indian cricket board.

Disney and Reliance's merged entity will also own Indian broadcast rights for the Wimbledon tennis championship, MotoGP and the English Premier League, among other sporting events.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

India flags cricket rights concerns with Disney-Reliance $8.5 billion mergerIt 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.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

Reliance, Disney offer concessions to win antitrust nod for India media merger, Reuters reportsThe merged company will have lucrative rights worth billions of dollars for the broadcast of cricket, raising pricing power fears and its grip over advertisers.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »