CCI warns Disney, Reliance merger will hurt rivals: report
The Hindu
Watchdog concerned about Disney-Reliance merger impact on cricket broadcast rights, companies may need more concessions for approval.
India's antitrust body, the Competition Commission of India (CCI), has reached an initial assessment that the $8.5 billion India merger of Reliance and Walt Disney media assets harms competition due to their power over cricket broadcast rights, four sources told Reuters on Tuesday (August 20, 2024).
In the biggest setback so far to their planned merger, CCI has privately told Disney and Reliance its view and asked the companies to explain why an investigation should not be ordered, one of the sources said.
"Cricket is the biggest pain point for the CCI," said one of the sources.
The merged company, which would be majority owned by Asia's richest man Mukesh Ambani's Reliance, would have lucrative rights worth billions of dollars for the broadcast of cricket, raising fears over pricing power and its grip over advertisers.
Reliance, Disney and the CCI did not immediately respond to requests for comment. All sources declined to be named as the CCI process is confidential.
Antitrust experts had warned the merger, announced in February, could face intense scrutiny as it will 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.
The CCI earlier privately asked Reliance and Disney around 100 questions related to the merger. The companies have told the watchdog they are willing to sell fewer than 10 television channels to assuage concerns about market power and win an early approval, sources told Reuters.
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.