Walt Disney has initiated preliminary discussions with potential buyers for its streaming and television operations in India, including discussions with billionaire Mukesh Ambani’s Reliance Industries, as per sources with knowledge of the situation.
The American entertainment giant has explored various possibilities with potential buyers, ranging from selling its entire Disney Star business to a more segmented transaction that could involve aspects such as sports rights and the regional streaming service Disney+ Hotstar.
Earlier reports from Bloomberg News in July indicated that Disney had been considering strategic alternatives for its Indian business, including a complete sale or the establishment of a joint venture. This consideration came after Disney lost the streaming rights to the Indian Premier League cricket tournament to Viacom18, a collaboration between Paramount Global and Reliance. At that time, there were discussions between Disney and Reliance about the possibility of Reliance acquiring a stake in Disney’s Indian business.
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Discussions are currently in progress, and there is no guarantee of reaching a deal, according to anonymous sources. Disney may choose to keep the assets for a longer period. A Disney representative has chosen not to provide any comments on the matter.
A spokesperson for Reliance stated that the company regularly assesses various opportunities and will disclose information when necessary but refrained from offering further comments.
Despite a decrease in subscribers for Disney Star following the loss of IPL streaming rights, the company has retained a portion of its cricket business by securing television rights until 2027. Additionally, last year, Disney agreed to license TV rights for International Cricket Council men’s matches to ZEE Entertainment for four years, while Disney+ Hotstar maintained digital rights.
In May, JioCinema, the streaming platform supported by Reliance, achieved a remarkable milestone with 32 million simultaneous viewers during the IPL final, which was available for free on the service. Subsequently, the platform has introduced subscription fees for certain content, following the establishment of a multi-year agreement to exclusively stream Warner Bros. Discovery’s content in India.
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