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Some of Allens employees affected by the move told ET that the layoffs happened across centres in Chennai, Bengaluru, Delhi, Hyderabad and Panchkula. The offline teaching operations of Allen NExT have also come to a halt, they added.

Reliance Industries Limited (“RIL”), Viacom 18 Media Private Limited (“Viacom18”) and The Walt Disney Company (NYSE:DIS) (“Disney”) today announced the signing of binding definitive agreements to form a joint venture (“JV”) that will combine the businesses of Viacom18 and Star India. As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited (“SIPL”) through a court-approved scheme of ar...

Reliance Industries, Viacom 18, and Disney merge Viacom18 and Star India to create a JV valued at Rs 70,352 crore ($8.5 billion). The JV will be one of Indias leading media companies, providing entertainment and sports content to over 750 million viewers and exclusive distribution rights for Disney films.

Reliance Disney Merger: The JV will be one of the leading TV and digital streaming platforms for entertainment and sports content in India, bringing together iconic media assets across entertainment and sports including access to highly anticipated events across television and digital platforms through JioCinema and Hotstar.

Indias top conglomerate Reliance Industries, led by Asias richest man Mukesh Ambani, and Walt Disney have announced the merger of their India TV and streaming media assets, in a strategic move that will create an $8.5 billion entertainment powerhouse.

As per data sourced from the Department for Promotion of Industry and Internal Trade (DPIIT), the sector accounted for 3.6% of the overall FDI inflow of ₹31,720 crore during the period.

​A statement from Allen Career Institute, which is primarily an offline coaching business, said the acquisition will help the tutoring institute build on its technology-led learning solutions.

Paramount Global has reported a non-cash gain of $168 million from diluting its stake in Indian media conglomerate Viacom18. In April, Paramounts stake in Viacom18 dropped to 13% after a strategic transaction involving Reliance Industries Limited (RIL) and Bodhi Tree Systems. RIL entities and Bodhi Tree Systems invested Rs 15,145 crore in Viacom18, resulting in Paramount no longer accounting for it under the equity method.

Comcast-run NBC Universal received approval from the Competition Commission of India (CCI) late Wednesday to invest in Bodhi Tree, a move that will pave the way for the American multinational to own a small indirect stake in Viacom18 Media.

This approval comes after Reliance Industries and Viacom18 announced their strategic partnership in April with BTS to form one of the largest TV and digital streaming companies in the country.