Vibodh Parthasarathi critiques the Competition Commission of India’s (CCI) inadequate transparency and lack of evidence-based decision-making, suggesting that this could facilitate media oligarchies in India. Parthasarathi highlights the growing concentration in India’s media landscape, with Reliance Industries Limited (RIL) at the forefront of this trend. RIL’s expansion, notably its recent joint venture with Disney and Viacom18, consolidates its dominance across multiple markets, despite regulatory shortcomings in addressing such aggregations.
The joint venture, owning a combined 40% share among the top broadcasters, faces limited regulatory scrutiny, raising concerns of market power that could affect consumer costs and competition in both broadcasting and online platforms. Despite posing questions to the parties involved, the CCI’s findings fell short, leaving relevant market definitions ambiguous and favoring a swift approval with unaddressed procedural gaps.
Furthermore, the CCI’s order, heavily redacted without explanation, fails to ensure institutional transparency and accountability. Proposed divestments to mitigate dominance do not address significant advertising market control, with Viacom18 and Disney holding a substantial portion of TV ad revenue — potentially impacting competitive practices by enabling the joint venture to dictate advertising rates.
In the online realm, the merger boosts its stake in streaming, capturing roughly 40% of advertising revenues. RIL’s approach echoes its disruptive entry in telecommunications, causing systemic shifts and raising questions about equitable competition and innovation within India’s dynamic media ecosystem. Parthasarathi calls for robust regulatory oversight to prevent such conglomeration, ensuring a fair market landscape for all stakeholders involved.
Original Story https://nenews.in/opinion/the-handmaiden-of-media-oligarchies-in-india/15374/
Category : Opinion,Competition Commission of India,Viacom18
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Publish Date: 2024-11-01 14:27:00
