Disney is said to be close to a multibillion-dollar deal with Reliance

Reliance IndustriesControlled by Mukesh Ambani, Asia’s richest tycoon, the cash-and-stock deal for the buyout is close Walt DisneyIt is known that the operation was carried out in India.

US entertainment giant Disney may sell a controlling stake in the Star business, valued at about $10 billion (about Rs 83,100 crore), as opposed to earlier weighted piecemeal deals, the people said, asking not to be named as the talks are private. Reliance’s assets range from $7 billion (about Rs 58,150 crore) to $8 billion (about Rs 66,470 crore), some people said.

The acquisition is likely to be announced as early as next month, along with the merger of some of Reliance’s media units. Disney StarThe people said without giving further details.

Under the proposal, Disney would likely retain a minority stake in the Indian company after any cash-and-stock swap transaction is completed, the people said. No final decision has been made on the deal or valuation, and Disney may still decide to hold on to the asset for some time, they added.

Reliance “evaluates various opportunities on an ongoing basis” and will make disclosures as required, a company spokesperson said in an email reply. A Disney representative in India did not respond to a request for comment.

The deal talks are exemplified by Ambani disrupting India’s entertainment industry after he offered the streaming rights of the Indian Premier League in 2022 for $2.7 billion (about Rs 22,430 crore). JioCinema The platform then opted to air the hugely popular domestic cricket tournament for free earlier this year.

Reliance then scored another win with a multi-year contract for broadcasting Warner Bros. discoveryIts HBO shows in India, content that was previously with Disney.

Even as Disney Star struggles with sliding customer numbers, the media group hasn’t given up on the market and is investing. has been weight Other options for the business include outright sales or setting up joint ventures, Bloomberg News reported in July.

Still, Disney’s India streaming platform managed by The men’s Cricket World Cup 2023 match between India and New Zealand on Sunday is set to draw a record 43 million viewers, the agency said in a statement. This was more than the 35 million viewers that the highly anticipated India-Pakistan match drew earlier this month.

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