Home Finance Adani Buy Disney:Disney said to be in talks with Adani, Maran to promote India assets

Adani Buy Disney:Disney said to be in talks with Adani, Maran to promote India assets

by khushahal vishwakarma
Adani Buy Disney

Adani Buy Disney: Disney has stated that it is in talks with Adani, along with other potential buyers, including billionaire Gautam Adani and Kalanithi Maran, for the sale of its assets related to its Indian streaming and television business. Private equity funds have also shown interest in this discussion. The discussion includes selling a portion of its Indian operations, which includes sports rights and regional streaming service Disney+ Hotstar. Property sale negotiations have already taken place with Reliance Industries Limited. Disney is exploring strategic options for its business in India, which may involve either a sole sale or establishing a joint venture.

Amid the Charter dispute, Disney has encouraged Spectrum customers to switch to Hulu+.

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According to familiar sources, The Walt Disney Company is in preliminary discussions with potential buyers, including billionaire Gautam Adani and Kalanithi Maran, for its Indian streaming and television business.

Senior executives of the American entertainment giant have also taken note of the interest from private equity funds, as Disney explores various options for its business in India, which could potentially involve selling a portion of its Indian operations, including the sale of sports rights and regional streaming service Disney+ Hotstar or merging assets with the likes of Reliance Industries Limited, Paramount Global, and investment firm Bodhi Tree Systems.

People familiar with the matter have suggested that a potential acquisition could bolster Maran’s broadcasting company, Sun TV Network, while it could assist the Adani Group in expanding its recently acquired New Delhi Television Limited. They caution that discussions are still in very early stages, and no deal may materialize.

Representatives from Disney in India declined to comment. S.L. Narayanan, the Chief Financial Officer of Sun TV Network, stated that the group does not comment on market speculations. A spokesperson for the Adani Group also indicated that they do not comment on market speculations.

The discussion of Disney’s sale of its India unit follows Reliance Industries’ acquisition talks, as reported by Bloomberg News earlier. In July, Bloomberg reported that Disney was considering strategic options for its business in India, which included either a sole sale or establishing a joint venture, following the loss of Indian Premier League cricket streaming rights to Viacom18 Media Private Limited. Viacom18 is a joint venture between Reliance, Paramount Global, and Uday Shankar’s investment firm, Bodhi Tree Systems.

People have noted that a potential acquisition by Maran could complement his broadcasting company, Sun TV Network, while for the Adani Group, it could aid in expanding its newly acquired New Delhi Television Limited. They stress that discussions are still at a very preliminary stage and no deal may be reached.

Representatives from Disney in India have declined to comment on the sale of the unit. S.L. Narayanan, the Chief Financial Officer of Sun TV Network, stated that the group does not comment on market speculations. A spokesperson for the Adani Group also indicated that they do not comment on market speculations.

The discussion about the sale of Disney’s India unit comes in the wake of Reliance Industries’ acquisition talks, as reported by Bloomberg News earlier. In July, Bloomberg reported that Disney was exploring strategic options for its business in India, which could include either a sole sale or the establishment of a joint venture, following the loss of Indian Premier League cricket streaming rights to Viacom18 Media Private Limited. Viacom18 is a joint venture between Reliance, Paramount Global, and Uday Shankar’s investment firm, Bodhi Tree Systems.

While Disney is currently facing challenges, especially after losing the streaming rights for the Indian Premier League, the media conglomerate has not given up on the entire cricket business, securing television rights until 2027.

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Disney is likely seeking to leverage its strong global brand in India, a country with a vast consumer base, where advertising slots are being sold at a premium rate of $3,600 per second. Disney+, which holds exclusive TV broadcasting rights for programs in India, announced on Wednesday that it is partnering with 26 sponsors, including Booking.com and the alcohol company Diageo PLC.

According to research by Jefferies LLC, cricket is the most popular sport in South Asian countries and attracts over $1.5 billion in sponsorship and media spending annually, accounting for approximately 85% of all sports-related expenditure in the country.

While Disney+ Star is currently grappling with a drop in its subscriber numbers after losing streaming rights to the Indian Premier League, the media group has not abandoned the entire cricket business, securing television rights until 2027.

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