Disney in talks with Adani, Sun TV to sell India assets
The Hindu
Disney exploring options to sell India streaming/TV biz; talks held with Adani, Sun TV. Disney faces pressure from Reliance's JioCinema. Disney's India ops posted $41.5M loss on $390M revenue in FY22. Disney betting free cricket on smartphones will boost ad revenue.
Disney has held talks with Indian billionaires Gautam Adani and Sun TV Network owner Kalanithi Maran as well private equity firms to sell its streaming and television business in the country, Bloomberg News reported on Friday.
Disney is exploring various possibilities, including selling some of its Indian operations or a mix of assets from the unit, the report said, citing people familiar with the matter.
The discussions are in the very early stages and a deal may not necessarily materialize, Bloomberg said. The report did not mention any potential deal value.
Disney, Sun TV and the Gautam Adani-controlled Adani group did not immediately respond to Reuters' request for comment.
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Disney was exploring options to sell or find a joint venture partner for its India digital and TV business, Reuters reported in July.
Disney has faced increasing pressure due to the emergence of Reliance Industries' streaming platform JioCinema, run by Asia's richest man, Mukesh Ambani.
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