Walt Disney is holding initial talks with potential buyers for its India streaming and television business including Mukesh Ambani's Reliance Industries, as per people associated with the matter. The US-based entertainment giant is discussing options with various buyers - from a deal for the complete Disney Star business to a piecemeal trade including a mix of its assets including sports rights and regional streaming service Disney+ Hotstar.
It was Bloomberg News that reported in July about Disney mulling strategic options for the business after the Indian unit lost the streaming rights to the Indian Premier League cricket tournament to Viacom18, a tie-up between Paramount Global and Reliance. People associated with the matter had said that Disney had approached Reliance about potentially buying a stake in the business.
Discussions on the matter are currently ongoing and there may also not be any deals, as of now as Disney might decide to hold onto the assets. So far, no Disney representative has declined to comment about the same.
A Reliance spokesperson said that the company "evaluates various opportunities on an ongoing basis" and will make the necessary revelations when necessary, declining to comment further.
Disney Star has seen a decline in its subscriber numbers after losing the IPL streaming rights however, it has not given up on the entire cricket business, securing the television rights through 2027.
In 2022, Disney Star 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.
On the other hand, JioCinema, backed by Reliance, earned a record 32 million concurrent viewers in May for the IPL final, which was free to watch on the platform. JioCinema has now begun charging for some content after signing a multi-year deal to stream Warner Bros. Discovery's exclusive content in India.
