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indiantelevision.com Team
NEW DELHI: Star India-owned Malayalam television outfit Asianet has received a go-ahead from the Competition Commission of India for its merger with Tamil channel Vijay TV.
Both had approached the Commission for its approval on 22 October as a CCI nod is mandatory for mergers happening under Section 5 of the Competition Act. Both the companies are part of the Star Group.
"The Commission is of the opinion that the proposed combination is not likely to have an adverse impact on competition in India," CCI said.
Star India and Jupiter Entertainment Ventures, Rajeev Chandrasekhar?s media and entertainment development company, had formed a new joint venture called Star Jupiter in 2008. Under the agreement, Star India became the majority shareholder of Asianet Communications Ltd (ACL), which currently broadcasts channels in Kannada (Suvarna), Telugu (Sitara) and Malayalam (Asianet, Asianet Plus).
Vijay TV, the Tamil language general entertainment channel currently operated and owned by Star India, will also come under Star Jupiter.
Indiantelevision.com had earlier reported that Chandrasekhar would also have equity stake in Vijay TV. The clearance of CCI, thus, clears this regulatory hurdle.
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