Walt Disney Co’s India operations might soon be bought by Mukesh Ambani’s Reliance Industries LTD. Reportedly, Disney has been planning to sell a controlling stake in the company and it values around 10 billion USD.
The deal might be made public earlier next month and Reliance’s media units will merge into Disney’s. Quite contrary to the piecemeal transactions calculated earlier, the stakes are worth a humongous 10 Billion. Reliance is eyeing to buy the stakes and it views the assets to be between 7 to 8 billion Dollars.
The company spokespersons have not talked about the matter yet but some insiders are saying that Disney will still hold onto a minority of the content.
Mukesh Ambani is creating quite a monopoly with the entertainment industries in India. He streamed the highly popular Indian Premier League for free. JioCinema also made a deal with Warner Bros. Discovery for the streaming of HBO shows.
It had been reported in July that even as Disney+ is struggling with subscribers, the company is looking for options like partnership and sale. The importance of the deal is quite huge, and it will affect many decisions in the industry. Reliance acquiring the Indian slate of Disney will be a huge win for the company and Mukesh Ambani will be reigning in all formats of the entertainment industry.
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