Home News Jio Cinema Impact? Disney India Ops in Talks for Possible Sale to Reliance

Jio Cinema Impact? Disney India Ops in Talks for Possible Sale to Reliance

by khushahal vishwakarma
Jio Cinema

Top executives from RIL and Disney recently engaged in direct discussions, as Disney explores various strategic options for its Indian business.

In a significant development, Disney Company is reportedly in talks with Reliance Industries Limited (RIL) for the potential sale of its erstwhile streaming and television business in India. These discussions have come at a time when RIL’s Jio Cinema has been making significant strides in the Indian streaming sector, witnessing a notable surge in user numbers.

Walt Disney Company, the parent company of Disney+ Hotstar, is said to be in negotiations with Reliance Industries Limited (RIL) for the potential sale of its Indian business assets. Discussions encompass various options, ranging from a complete sale to partial deals, including the consolidation of assets like sports rights and the streaming platform Disney+ Hotstar with RIL.

According to sources cited in reports, discussions are in preliminary stages, and there may not be an immediate agreement. However, as per the reports, the American media conglomerate may decide to retain ownership of its assets for a more extended period.

“As a matter of policy, we do not comment on media speculations and rumors,” said a spokesperson from RIL, while also noting that their company continually evaluates various opportunities. “We have made necessary disclosures in compliance with our obligations under SEBI regulations and our agreements with stock exchanges, and we will continue to do so,” the spokesperson added.

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This development follows reports from two months ago that Disney was exploring the possibility of a joint venture and potential sale of its Star India business, which includes prominent assets like Disney+ Hotstar.

It’s noted that Disney is contemplating strategic options at a time when the competitive and RIL-backed Jio Cinema has entered the Indian streaming scene. Over the past year, Jio Cinema has secured digital streaming rights for major sporting events like the Indian Premier League (IPL), FIFA World Cup 2022, and media rights for domestic cricket matches in India.

Meanwhile, JioCinema, with an investment of ₹2,000 crores, is also planning to present over 100 Indian films and TV shows, which could further impact Disney+ Hotstar’s fortunes in India. As Zee and Sony have already embarked on consolidation, it remains to be seen if these two giants will join forces as well.

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