Mukesh Ambani’s Reliance Industries Ltd. will buy Walt Disney Co.’s India operations for billions. After the deal, Disney will keep a minority stake in Disney Star…
Mukesh Ambani’s Reliance Industries Ltd. is allegedly close to acquiring Walt Disney Co.’s India assets for billions. The purchase is expected to give Reliance Industries a $10 billion controlling interest in Disney Star. Walt Disney Co. will own a minority share. Reliance values the assets at $7 billion to $8 billion, which is different. The two corporations are expected to announce this large deal next month, with further consolidation if Reliance merges some media operations with Disney Star.
The deal’s terms and valuation are still being finalized. Disney may keep a minority ownership in the Indian firm after the cash and stock transfer. Disney may keep the assets for a while. Disney’s Indian representative hadn’t reacted, and Reliance wouldn’t comment.
Reliance enters entertainment
Mukesh Ambani is growing in entertainment. The 2022 Indian Premier League streaming rights cost Reliance $2.7 billion. After that, Ambani’s JioCinema showed the popular domestic cricket tournament for free, destabilizing the market.
Reliance also signed a multi-year deal to broadcast HBO programming from Warner Bros Discovery Inc. in India, previously Disney’s. Disney Star is struggling with dwindling subscriber numbers, although the media conglomerate has invested and explored several options, including a sale or joint ventures.
Disney’s India streaming platform nevertheless pulled in a record 43 million viewers for the men’s Cricket World Cup 2023 match between India and New Zealand, topping the 35 million people who watched the highly anticipated India-Pakistan match earlier this month.
Mukesh Ambani’s growing media empire and contract with Reliance Industries demonstrate his impact on India’s entertainment industry.
Conclusion
Mukesh Ambani’s Reliance Industries Ltd. will buy Walt Disney Co.’s India operations for billions. A $10 billion majority interest in Disney Star is likely, with Walt Disney Co. keeping a minority position. Reliance values the assets at $7–8 billion. Disney may keep a minority ownership in the Indian firm after the cash and stock transfer, but the terms and valuation are still being finalized. Disney India hasn’t replied to requests for comment. The Indian Premier League streaming rights were purchased for $2.7 billion in 2022 and broadcast for free on JioCinema by Reliance.
