Disney India business – According to a report on Monday, Mukesh Ambani’s Reliance Industries Ltd is closing a cash and equity deal to acquire Walt Disney Co.’s India operations.
According to Bloomberg, the US entertainment behemoth may sell a majority stake in the Disney Star company, which it values at roughly $10 billion, while Reliance, whose broadcast partner Viacom18 runs JioCinema, values Disney’s India assets at between $7 billion and $8 billion.
According to the report, the acquisition might be revealed as early as next month, with some of Reliance’s media divisions integrated into Disney Star.
According to different media sources, Disney has been exploring possibilities to sell or find a partner for its India holdings, and has held negotiations with billionaires Gautam Adani and Sun TV Network-owner Kalanithi Maran, as well as private equity company Blackstone.
Disney India business
Reuters reported earlier this month that Blackstone had early talks with Walt Disney about acquiring a stake in the entertainment company’s Indian unit.
Meanwhile, it has lost streaming rights to RIL’s television unit for various significant cricket tournaments, including the Indian Premier League and the national cricket team’s bilateral matches.
JioCinema has escalated the pressure on Disney India, with Ambani marketing the platform by providing free access to the Indian Premier League cricket event, the digital rights to which were formerly held by Disney.