Disney to sell its Indian TV and streaming business
By MYBRANDBOOK
Walt Disney is reportedly discussing the sale of its Indian streaming and television operations with Reliance Industries. The discussions range from a potential deal for the entire Disney Star business to a partial transaction. Disney has been looking for strategic options for the company, such as forming a joint venture or selling the company entirely.
Disney has been weighing strategic options for the business including an outright sale or setting up a joint venture, Bloomberg News reported in July after the Indian unit lost its streaming rights to the Indian Premier League cricket tournament to Viacom18, a tie-up between Paramount Global and Reliance. Discussions are ongoing and may not lead to any deal. Disney could decide to hold onto the assets for longer.
A spokesperson for Reliance said the company “evaluates various opportunities on an ongoing basis” and will make the required disclosures when necessary, declining to comment further.
Though Disney Star has seen declining subscriber numbers after losing the IPL streaming rights, it hasn't ceded the entire cricket business, securing the television rights through 2027. Last year it agreed to license the TV rights for International Cricket Council men's matches to ZEE Entertainment for four years, with Disney+ Hotstar retaining the digital rights.
JioCinema, the streaming service backed by Reliance, netted a record 32 million concurrent viewers in May for the IPL final, which was free to watch on the platform. The venture has begun charging for some content on the platform after signing a multi-year pact to stream Warner Bros. Discovery's exclusive content in India.
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