Walt Disney Co. is in early talks with potential buyers for its streaming and television business in India, including Reliance Industries owned by Mukesh Ambani. The discussions are exploring various options, from selling the entire Disney Star business to potentially selling specific assets like sports rights and the regional streaming service Disney+ Hotstar.
This development follows Disney’s loss of streaming rights for the Indian Premier League (IPL) cricket tournament to Viacom18 Media, which is a partnership involving Paramount Global and Reliance. Disney had previously discussed the possibility of Reliance taking a stake in their business.
It’s important to note that these talks are ongoing, and there is no guarantee that a deal will be reached. Disney may also decide to keep its assets for a longer period. Disney has chosen not to comment on the matter, while Reliance has stated that they regularly assess various opportunities and will make appropriate disclosures as needed.
Despite a decline in subscriber numbers following the loss of IPL streaming rights, Disney Star still holds television rights for cricket until 2027. Additionally, Disney+ Hotstar retains digital rights for International Cricket Council men’s matches. Reliance’s streaming service, JioCinema, saw a significant 32 million concurrent viewers during the IPL final in May and has recently started charging for certain content on the platform after securing a multi-year deal to stream exclusive content from Warner Bros Discovery Inc. in India.
(Source: Economic Times | Bloomberg)
