Disney has been looking for suitable buyers for its digital and TV business in the country. Reports said that the company has held talks with US-based private equity firm Blackstone, billionaire Gautam Adani and Sun TV Network owner Kalanithi Maran for selling some of its controlling stake. a new report has claimed that its strongest rival Reliance may buy the entire business.
Citing people familiar with the matter, Bloomberg reported that Reliance is nearing a cash and stock deal to buy Disney’s India operations, which it values at around $10 billion. The report also suggests that Reliance views the assets at between $7 billion to $8 billion.
Additionally, the report noted that the transaction could be announced as early as next month though no decision has been made.
Disney’s ‘shrinking’ India business
Disney’s India business, which comprises the Disney+ Hotstar streaming service and Star India, was its biggest last year globally by users. However, JioCinema’s entry into the market put pressure on the streaming giant by offering free access to the IPL cricket tournament.
IPL’s digital streaming rights were previously secured by Disney. The company posted a loss of $41.5 million on revenue of $390 million for the year to March 2022.
Meanwhile, a lot of shows which were previously available on Disney+ Hotstar were made available on JioCinema. Unlike it was on Disney+ Hotstar, the content on the Jio streaming platform included shows from HBO, Warner Bros, and Max Originals. JioCinema was also the go-to platform to watch the FIFA World Cup held last year.
Disney+ Hotstar Cricket World Cup
In a strategic move, Disney+ Hotstar started free streaming of matches of the ongoing ICC cricket World Cup 2023 on mobiles. It also launched a few features to increase user interest. Meanwhile, Jio launched data packs to stream matches on the platform.
Citing people familiar with the matter, Bloomberg reported that Reliance is nearing a cash and stock deal to buy Disney’s India operations, which it values at around $10 billion. The report also suggests that Reliance views the assets at between $7 billion to $8 billion.
Additionally, the report noted that the transaction could be announced as early as next month though no decision has been made.
Disney’s ‘shrinking’ India business
Disney’s India business, which comprises the Disney+ Hotstar streaming service and Star India, was its biggest last year globally by users. However, JioCinema’s entry into the market put pressure on the streaming giant by offering free access to the IPL cricket tournament.
IPL’s digital streaming rights were previously secured by Disney. The company posted a loss of $41.5 million on revenue of $390 million for the year to March 2022.
Meanwhile, a lot of shows which were previously available on Disney+ Hotstar were made available on JioCinema. Unlike it was on Disney+ Hotstar, the content on the Jio streaming platform included shows from HBO, Warner Bros, and Max Originals. JioCinema was also the go-to platform to watch the FIFA World Cup held last year.
Disney+ Hotstar Cricket World Cup
In a strategic move, Disney+ Hotstar started free streaming of matches of the ongoing ICC cricket World Cup 2023 on mobiles. It also launched a few features to increase user interest. Meanwhile, Jio launched data packs to stream matches on the platform.
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