THE NATIONAL COMPANY LAW TRIBUNAL (NCLT) Mumbai bench has sanctioned the merger of Star Television Productions (STPL) with JioStar India, its Indian affiliate formerly known as Star India Private Limited. The approval was granted on 26 September under Sections 230 to 232 of the Companies Act, 2013, as per reports.
STPL, long recognised as the owner of the ‘STAR’ brand, had licensed its use to group companies for television and entertainment operations. With this merger, all assets, liabilities, and brand rights are transferred to JioStar India, consolidating ownership and operations under a single entity. The tribunal deemed the scheme “fair, reasonable and not in violation of any provisions of law”, while clarifying that pre-merger offences by officers remain prosecutable and allowing the Income Tax Department to review for potential tax avoidance.
This move follows Reliance Industries Limited’s (RIL) November 2024 acquisition of a 63.16% stake in STPL from a Disney shareholder for ₹211.6 crore, making STPL its subsidiary.
JioStar India itself was created through the $8.5 billion joint venture between Disney’s Star India and Reliance’s Viacom18 in November 2024. That deal, valued at ₹70,000 crore, received NCLT approval on 30 August 2024 after clearance from the Competition Commission of India (CCI), subject to voluntary modifications.
The JV brings together more than 100 television channels under banners such as Star, Colors, Star Plus, and Star Gold, in addition to streaming platforms JioCinema and Disney+ Hotstar (rebranded as JioHotstar). Reliance and its affiliates hold 63.16% ownership, with Disney retaining 36.84%. Nita Ambani serves as chairperson and Uday Shankar as vice-chairperson.
The merger is expected to streamline operations, unlock cost efficiencies through synergies, and enhance shareholder value for both RIL and Disney. It also strengthens digital integration, with live sports content — including the Indian Premier League — transitioning to the JioHotstar app, laying the groundwork for a unified streaming platform.
