Reliance Industries and Walt Disney have sought antitrust clearance for their $8.5 billion India media merger by arguing their combined power, especially on cricket broadcasting, will not hit advertisers, two people with direct knowledge told Reuters.
The deal, announced in February, has been expected by experts to face intense scrutiny as it will create India’s biggest entertainment player with 120 TV channels and two streaming services. It will also own lucrative rights for cricket, India’s top sport.
Reliance and Disney have told the Competition Commission of India (CCI) the cricket rights were obtained separately under a bidding process which was competitive, said the two sources, who declined to be named as the approval process is confidential.
The companies argue other competitors won’t be harmed as they can bid when those rights expire in 2027 and 2028, the sources added.
The CCI will now review the confidential filing. Though any clearance typically takes several weeks, it can take longer if the watchdog isn’t satisfied and seeks more information.
Reliance, Walt Disney and the CCI did not immediately respond to requests for comment.
Disney and Reliance currently own digital and TV cricket rights worth billions of dollars for the world’s most valuable cricket tournament the Indian Premier League, International Cricket Council matches and those of the Indian cricket board.
