Reliance Industries Ltd.controlled by the richest tycoon in the Asia, Mukesh Ambaniis close to reaching a cash and stock deal to buy the operation The Walt Disney Co. in Indiaas reported Bloomberg.
The American entertainment giant could sell a majority stake in the entertainment business Disney starwhich values it at about $10 billion, rather than the partial transactions previously considered, said the sources, who asked not to be named because the talks are private. Confidence values the assets at between $7 billion and $8 billion, according to some of these people.
The acquisition could be announced as early as next month, with the merger of some of the media units in Confidence in Disney starthe people said, without providing further details.
According to the proposal, it is likely that Disney continue to hold a minority stake in the Indian company after any cash and stock transactions are completed, the sources said. A final decision on the deal or the valuation has not yet been made, and Disney could decide to hold on to the assets a little longer, they added.
Confidence is “evaluating various options on an ongoing basis” and will provide necessary information as needed, a company spokesman said in an emailed response. A representative of Disney in India did not respond to a request for comment.
The settlement negotiations are illustrative of the disturbance that Ambani causing in the Indian entertainment industry after in 2022 it acquired the streaming rights to Premier League India for USD 2.7 billion.
In early 2023, the platform JioCinema of the billionaire decided to broadcast the popular national cricket tournament for free. Reliance scored another win by signing a multi-year deal to broadcast the shows in India HBO of Warner Bros Discovery Inccontent that was previously in the hands of Disney.
Despite Disney star has suffered a drop in the number of subscribers, the media group has not given up on the market and has made investments. It has weighed other options for the company, including selling outright or setting up a joint venture, it said. Bloomberg News in July.
Still, the streaming platform Disney in India reached a record 43 million viewers on Sunday for the men’s match Cricket World Cup 2023 enter here India y New Zealand, as reported by the company in a statement. The figure exceeded 35 million viewers of the expected match between India y Pakistan earlier this month.