TV18 Broadcast’s shares rose 5.06% this week after the Competition Commission of India (CCI) approved its $8.5 billion mega-merger with Disney’s entertainment and media assets in India.
The proposed merger would bring together Viacom18 Media, a joint venture between TV18 and ViacomCBS, with the local operations of Disney’s entertainment and sports networks. Once finalized, the merged firm would produce one of India’s major entertainment networks.
The CCI’s approval, according to analysts, represents a significant turning point for the deal and opens the door for its swift completion. They remain optimistic about the merged entity’s long-term prospects, given its enhanced scale, content library, and digital capabilities.
Stock Performance on Friday
– Open: ₹52.20
– High: ₹53.50
– Low: ₹50.82