Disney is holding talks to sell its India assets to Reliance Industries, the company controlled by Asia’s richest person, Mukesh Ambani, according to a Bloomberg News report. The talks are still in the early stages, and it is not clear if a deal will be reached.
New Delhi: Walt Disney Co. is holding preliminary discussions with potential buyers for its India streaming and television business including billionaires Gautam Adani and Kalanithi Maran, according to people familiar with the matter, as per a report carried by Bloomberg.
Disney is considering a range of options for its India business, including selling part of its Indian operations or a combination of the unit’s assets, such as sports rights and regional streaming service Disney Hotstar. The company has also gauged the interest of private equity funds.
Disney Hotstar Hit By Jio Cinema’s Rise
The move comes as Disney faces increasing competition from local rivals such as Jio Cinema, which is owned by Reliance Industries Ltd., and SonyLIV, which is backed by Sony Group Corp. Both Jio Cinema and SonyLIV have been aggressively investing in content and have seen their subscriber bases grow rapidly in recent years.
Disney is holding talks to sell its India assets to Reliance Industries, the company controlled by Asia’s richest person, Mukesh Ambani, according to a Bloomberg News report. The talks are still in the early stages, and it is not clear if a deal will be reached.
Disney is also considering other options for its India business, including setting up a joint venture or selling its assets piecemeal. The company has been weighing its strategic options since it lost the streaming rights to the Indian Premier League cricket tournament to Viacom18 Media Pvt. in July.
Who Are The Potential Buyers
A potential acquisition of Disney’s India assets could complement Maran’s broadcasting company, Sun TV Network Ltd., while for the Adani Group, it could help expand its newly acquired New Delhi Television Ltd.
Sun TV is one of the largest television broadcasters in India, while New Delhi Television is a popular news channel. The acquisition of Disney’s India assets would give both groups a stronger presence in the Indian media and entertainment market. However, it is important to note that the talks are still in a very preliminary stage, and any deal may not happen.
It remains to be seen what the future holds for Disney’s India business. However, it is clear that the company is facing significant challenges in the market. A sale of its India assets could be a way for Disney to cut its losses and focus on its more profitable businesses in other markets.
