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Reliance Industries Set to Acquire Walt Disney's India Operations in Multibillion Dollar Deal

By LAWSTREET NEWS NETWORK      Oct 25, 2023      0 Comments      284 Views
Reliance Industries Set to Acquire Walt Disneys India Operations in Multibillion Dollar Deal

Mukesh Ambani's Reliance Industries is all set to finalise a multi-billion dollar deal with Walt Disney Co. to buy its India operations, Bloomberg News reported on Monday.

According to the reports, Disney may sell a controlling stake in the Disney Star business, which it values at around $10 billion, rather than piecemeal transactions, Bloomberg reported, citing sources familiar with the matter.

However, no final decision has been made on the deal or the valuation and Disney could still decide to hold onto the assets, Bloomberg reported.

The deal could be announced as early as next month and Disney will likely hold on to a minority stake in the Indian business, the report said.

It is said that Reliance's streaming platform JioCinema has put increased pressure on Disney's India streaming operations, with Ambani marketing his streaming platform by offering free access to the Indian Premier League cricket tournament, digital rights of which were earlier with Disney.

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