Disney Is All Set To Sell Their $10 Billion Worth Indian Business To Mukesh Ambani’s Reliance Industries As The Latter’s JioCinema Disrupts Streaming Game

Disney Is All Set To Sell Their $10 Billion Worth Indian Business To Mukesh Ambani’s Reliance Industries As The Latter’s JioCinema Disrupts Streaming Game (Photo Credit – Wikipedia)

Disney is all set to take a big step for their India operations as they are nearing a cash and stock deal with India’s richest tycoon, Mukesh Ambani. If reports are to be believed, the latter is all set to buy Walt Disney Co.’s India operations. It is being reported that the US entertainment giant may sell a controlling stake in Disney Star, and apparently it is being valued at approximately $10 billion. Scroll down to know the details.

In July 2023, it was reported that Walt Disney was exploring options to sell or find a joint venture partner in order to enter India’s digital and TV business. At the time, it was revealed that no buyer had approached them, but it now looks like they will soon be closing the deal with Mukesh Ambani’s Reliance Industries.

The discussions first began after Walt Disney faced increased pressure due to the ever-growing competition from Reliance Industries’ streaming platform JioCinema, which is run by Mukesh Ambani. Now, according to the latest reports, as per Bloomberg, Reliance is viewing assets between $7 billion to $8 billion and if all goes well, the acquisition might be announced in November’s first week. Sources spilled the beans that some of the media units might be merged into Disney Star.

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The reports suggest that Disney will apparently continue with their minority stake after they are done with their cash and stock deal. Sources have revealed that no final decision has been made on the deal or the valuation. Also, there is a possibility that Disney might hold onto their assets for a bit longer.

There has been no public update from Mukesh Ambani’s Reliance Industries but we will keep you posted. The deal comes after Ambani’s JioCinema scored a massive streaming deal worth $2.7 billion in 2022 to obtain the rights of the Indian Premier League (IPL). Then in a plot twist, JioCinema aired the IPL for free this year.

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The post Disney Is All Set To Sell Their $10 Billion Worth Indian Business To Mukesh Ambani’s Reliance Industries As The Latter’s JioCinema Disrupts Streaming Game appeared first on Koimoi.

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