Disney in Talks with Reliance to Sell Hotstar and Star Sports
Walt Disney Co. is in talks with Reliance Industries Ltd., India’s largest conglomerate, to sell its streaming and television business in the country, according to a report in the Economic Times. The deal, if it goes through, would be one of the biggest in the Indian media sector.
Disney has been struggling to make its India business profitable, and the loss of the streaming rights to the Indian Premier League, the country’s most popular cricket tournament, earlier this year was a major blow. Reliance, on the other hand, is expanding its media business rapidly and has already acquired a majority stake in Viacom18, which owns several popular TV channels and streaming services.
The talks between Disney and Reliance are still in the early stages, and it is not clear what assets would be included in any deal. However, it is likely that Disney would sell its entire India business, including Hotstar, Star Sports, and its regional channels.
A sale of Disney’s India business to Reliance would be a major coup for the Indian conglomerate. It would give Reliance a dominant position in the country’s media sector and allow it to compete more effectively with global rivals like Netflix and Amazon Prime Video.
For Disney, a sale of its India business would allow the company to focus on its more profitable businesses in other markets. It would also reduce Disney’s exposure to the Indian market, which has been challenging for the company.