Disney Is Nearing a Multi-Billion Dollar Deal To Sell Off Its India Business
After months of weighing their options, The Walt Disney Company is nearing a deal to sell its India operations to Mukesh Ambani’s Reliance Industries Ltd.
After examining options that included selling off parts of its operation, or bringing in strategic partners, Disney is set to unload a controlling stake in its Disney Star business.
Photo: Hindustan Times
A Disney-Reliance Deal is Forthcoming
According to reports, the acquisition could be announced as early as next month. The exact price that Reliance will pay for Disney Star, however, remains unclear.
Disney reportedly values the business at around $10 billion. Reliance, meanwhile, views the assets as worth between $7 and $8 billion. Following the sale, Disney will likely retain a minority stake in the Indian company.
Photo: Indian Express
Additionally, once the deal is complete some of Reliance’s media units are expected to merge into Disney Star.
FILE PHOTO: Mukesh Ambani, chairman of Reliance Industries Limited, poses for photographers. REUTERS/Shailesh Andrade
While Disney did not respond to a request for comment, Reliance said that it “evaluates various opportunities on an ongoing basis.”
Mukesh Ambani Expands His Empire
Ambani has become a major player in India’s entertainment industry over the last two years. After securing the streaming rights to the Indian Premier League in 2022 for $2.7 billion, the billionaire’s JioCinema platform chose to broadcast the domestic cricket tournament for free earlier this year.
Photo: BBC
Reliance also agreed to a multi-year pact to broadcast HBO shows in India. Those rights were previously held by Disney.
While Disney has seen an exodus of streaming subscribers since losing the EPL rights last year, the company has remained a major player in India’s media landscape.
Photo: Forbes
How involved Disney will continue to be after the Star sale is completed, however, remains to be seen.
