Disney is in discussions to sell India properties with Adani and Sun TV
By MYBRANDBOOK
According to reports, Disney is in discussions to sell its streaming and television operations in India with billionaires Gautam Adani and Kalanithi Maran, who owns Sun TV Network. As per the report, Disney is looking into a number of options, including the sale of some of its Indian operations or a combination of assets from the division.
The US entertainment giant’s senior executives have also gauged the interest of private equity funds considering the company is exploring a range of options, which could involve selling part of the Indian operations or a combination of the unit’s assets including sports rights and regional streaming service Disney Hotstar.
The asset-sale talks have already been held with billionaire Mukesh Ambani-led Reliance Industries Ltd, according to an earlier report. Disney has been weighing strategic options for its business in India including an outright sale or setting up a joint venture, reported in July after the unit lost its streaming rights to the Indian Premier League cricket tournament to Viacom18 Media Pvt.
The discussions around the sale of Disney’s India unit show how the market dynamics have been disrupted ever since Ambani’s conglomerate scooped up the streaming rights to the Indian Premier League for $2.7 billion and chose to broadcast it for free earlier this year. Reliance scored another win by bagging a multi-year pact to broadcast Warner Bros Discovery Inc.’s HBO and other content that was previously with Disney, as per the report.
Disney is now using Reliance’s playbook and streaming the ongoing Cricket World Cup in India for free — a move aimed at clawing back some subscribers even if it means sacrificing the revenue in the cricket-crazy nation of 1.4 billion people.
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