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Walt Disney Co is in preliminary talks with potential buyers for its Indian streaming and television businesses, including billionaires Gautam Adani and Kalanithi Maran, according to people familiar with the matter.
The US entertainment giant’s senior executives have also gauged interest from private equity funds as the company explores a range of options, including selling part of its Indian operations or a combination of the unit’s assets, including sports rights and the regional streaming service Disney+ Hotstar. , the people said, asking not to be identified because the discussions are private.
Asset sales talks have already been held with Reliance Industries Ltd, controlled by Asia’s richest person Mukesh Ambani, Bloomberg News previously reported.
Disney has been weighing strategic options for its India operations, including an outright sale or setting up a joint venture, Bloomberg News reported in July after the unit lost its streaming rights to the Indian Premier League cricket tournament to Viacom18 Media Pvt. Viacom is a joint venture between Reliance, Paramount Global and Uday Shankar’s investment firm Bodhi Tree Systems.
A potential acquisition could complement Maran’s broadcaster. Sun TV Network Ltd, while for Adani Group it could help expand the newly acquired New Delhi Television Ltd, the people said. They added that deliberations are still at a very preliminary stage and that a deal may not be reached.
Disney representatives in India declined to comment. Sun TV Network Group Chief Financial Officer SL Narayanan said the group does not comment on market rumors or speculation. An Adani spokesperson also said they would not comment on market speculation.
The discussions surrounding the sale of Disney’s Indian division highlight how market dynamics have been disrupted since Ambani’s conglomerate picked up the streaming rights to the Indian Premier League for $2.7 billion and opted to broadcast it for free earlier this year. Ambani scored another win by inking a multi-year pact to air Warner Bros Discovery Inc’s HBO and other content previously with Disney.
Disney is now using Reliance’s playbook and streaming the ongoing Cricket World Cup in India for free – a move aimed at regaining some subscribers even if it means sacrificing revenue in the cricket-mad nation of 1.4 billion people.
However, Disney is likely to get a boost as major global brands line up to tap India’s huge consumer base, with ad slots selling for $3,600 per second. Disney Star, which holds the exclusive TV broadcast rights to the event in India, said in a statement on Wednesday that it is working with 26 sponsors, including heavyweights such as Booking.com BV and drinks company Diageo Plc.
Cricket is by far the most popular sport in the South Asian country, attracting more than $1.5 billion in sponsorship and media spending annually, according to research by Jefferies LLC, or about 85% of all sports-related spending in the country.
Even as Disney Star struggles with declining subscriber numbers after losing the streaming rights to the Indian Premier League, the media group has not ceded the entire cricket business and secured the television rights until 2027.
Last year, Disney Star agreed to license the TV rights for International Cricket Council men’s matches to ZEE Entertainment Enterprises Ltd for four years, with Disney+ Hotstar retaining the digital rights.
The US entertainment giant’s senior executives have also gauged interest from private equity funds as the company explores a range of options, including selling part of its Indian operations or a combination of the unit’s assets, including sports rights and the regional streaming service Disney+ Hotstar. , the people said, asking not to be identified because the discussions are private.
Asset sales talks have already been held with Reliance Industries Ltd, controlled by Asia’s richest person Mukesh Ambani, Bloomberg News previously reported.
Disney has been weighing strategic options for its India operations, including an outright sale or setting up a joint venture, Bloomberg News reported in July after the unit lost its streaming rights to the Indian Premier League cricket tournament to Viacom18 Media Pvt. Viacom is a joint venture between Reliance, Paramount Global and Uday Shankar’s investment firm Bodhi Tree Systems.
A potential acquisition could complement Maran’s broadcaster. Sun TV Network Ltd, while for Adani Group it could help expand the newly acquired New Delhi Television Ltd, the people said. They added that deliberations are still at a very preliminary stage and that a deal may not be reached.
Disney representatives in India declined to comment. Sun TV Network Group Chief Financial Officer SL Narayanan said the group does not comment on market rumors or speculation. An Adani spokesperson also said they would not comment on market speculation.
The discussions surrounding the sale of Disney’s Indian division highlight how market dynamics have been disrupted since Ambani’s conglomerate picked up the streaming rights to the Indian Premier League for $2.7 billion and opted to broadcast it for free earlier this year. Ambani scored another win by inking a multi-year pact to air Warner Bros Discovery Inc’s HBO and other content previously with Disney.
Disney is now using Reliance’s playbook and streaming the ongoing Cricket World Cup in India for free – a move aimed at regaining some subscribers even if it means sacrificing revenue in the cricket-mad nation of 1.4 billion people.
However, Disney is likely to get a boost as major global brands line up to tap India’s huge consumer base, with ad slots selling for $3,600 per second. Disney Star, which holds the exclusive TV broadcast rights to the event in India, said in a statement on Wednesday that it is working with 26 sponsors, including heavyweights such as Booking.com BV and drinks company Diageo Plc.
Cricket is by far the most popular sport in the South Asian country, attracting more than $1.5 billion in sponsorship and media spending annually, according to research by Jefferies LLC, or about 85% of all sports-related spending in the country.
Even as Disney Star struggles with declining subscriber numbers after losing the streaming rights to the Indian Premier League, the media group has not ceded the entire cricket business and secured the television rights until 2027.
Last year, Disney Star agreed to license the TV rights for International Cricket Council men’s matches to ZEE Entertainment Enterprises Ltd for four years, with Disney+ Hotstar retaining the digital rights.
