India Antitrust Body Raises Concerns over $8.5B Reliance-Disney Media Merger

India's antitrust body has raised concerns about the $8.5 billion merger between Reliance and Walt Disney's media assets, citing potential harm to competition due to their power over cricket broadcast rights. The Competition Commission of India has asked the companies to justify why an investigation shouldn't be launched.

India's antitrust body has raised initial concerns that the $8.5 billion merger between Reliance and Walt Disney's media assets could harm competition, particularly in the realm of cricket broadcasting rights, four sources told Reuters on Tuesday.

This marks the most significant setback for the proposed merger so far, as the Competition Commission of India (CCI) has privately communicated its apprehensions to both Disney and Reliance. The companies have been asked to provide reasons against launching a full-scale investigation.

The antitrust body’s assessment casts uncertainty over the future of the high-stakes merger, urging both parties to respond promptly.