Disney Enters Preliminary Negotiations to Sell India Assets

With its India streaming woes continuing, The Walt Disney Company is holding preliminary discussions with potential buyers from its India streaming and television business.

While Disney initially entered the streaming market with a bang following its purchase of 20th Century Fox in 2020, it has been tough sledding for the company since it lost the streaming rights to the Indian Premier League cricket matches.

Photo: Forbes

Soon after, Disney was bleeding subscribers. Out of their 61 million users in October 2022, roughly 21 million had left by July of this year.

Photo: BBC

As Disney began to face mounting losses in India, the company began to explore strategic options for its business in India.

Could Disney Sell?

Now, according to Bloomberg, Disney has had discussions with billionaires Gautam Adani and Kalanithi Maran.

Both Maran and Adani are major players in Indian television, and an acquisition of Disney’s assets by either billionaire would add to an already impressive portfolio.

Gautam Adani. Photo: The Economist

Disney is reportedly also gauging the interest of private equity funds. According to reports, the company is considering a range of options including selling part of their Indian operation or combining the unit’s assets.

The latest news comes after Disney decided to shift its strategy and stream cricket games for free. If the gambit is successful, it could bring back some of the customers that Disney has lost.

Photo:amplitude.com

No matter what happens, one thing is clear- something needs to change. Last year, Disney+ Hotstar posted a loss of $41.5 million on revenue of $390 million. With Bob Iger reportedly pressuring Disney’s India unit to hit profitability by next year, Disney may be running out of options.

Scott Mlyn | CNBC

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