Key Points
Novi Digital Entertainment, which owns the Disney+ Hotstar streaming platform, has initiated a process to merge with its parent firm, Walt Disney Company-owned Star India...
Both companies have already filed the scheme of merger with the Mumbai bench of the National Company Law Tribunal (NCLT)..
In their application, Star and Novi stated that the move would help them achieve economies of scale, enable synergies, increase operational efficiencies, put a greater emphasis on growth, make the best use of resources and lower costs...
"Both the companies, Novi Digital and Star India are unlisted entities, hence they will have to face relatively lesser compliance compared to such transactions for listed companies," said Faiza Dhanani, partner of law firm Cue Legal..
Walt Disney has approached RIL and Blackstone for a partial to full sale of Star India, which has a significant presence in linear TV and streaming businesses, ET has reported...
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