Disney is reportedly set to sell its India operations to local rival Reliance Industries, which is controlled by billionaire businessman Mukesh Ambani.
Bloomberg News reported that Reliance, whose broadcast division Viacom18 runs streaming service JioCinema, values Disney’s India assets at between $7 billion and $8 billion.
JioCinema has grown quickly and put pressure on Disney in India. JioCinema last year bought streaming rights to the highly popular Indian Premier League cricket for $2.7 billion and has started broadcasting the tournament for free. It has also agreed a deal for HBO’s premium content.
Disney has reportedly been exploring options to sell or find a partner for its India assets for several months. Interested parties are said to include billionaires Gautam Adani and Sun TV Network-owner Kalanithi Maran as well as private equity firm Blackstone, according to media reports.
However, Bloomberg News reported this week that that the deal to sell a majority stake to Reliance Industries was nearing completion. The deal could be announced as early as next month, although no final decision has been made and Disney could still decide to hold onto the assets, Bloomberg reported.
The enterprise value of the India business, Disney’s biggest last year globally by users, was seen at around $15 billion to $16 billion when Disney took over Fox’s business.
5G broadcast commercial services set for Europe launch in 2027
Leading broadcast operators have said that 5G broadcast commercial services will be ready for use in key European markets in 2027.
Versa Studios names Sarah McGettigan as Head of Sales
UK film and television facilities group Versa Studios has appointed Sarah McGettigan as Head of Sales.
President Trump signs order to cut funding for Voice of America
US President Donald Trump has signed an executive order to cut back the government-funded news organisation Voice of America (VOA).
Avid adds three senior executives to leadership team
Avid has announced three appointments to its executive leadership team.
ITV, BBC agree four-year Six Nations rugby deal
BBC Sport and ITV have agreed a new four-year deal for the Men’s Six Nations, which will keep the rugby competition on free-to-air television until 2029.
