Walt Disney Co. is reportedly in the early stages of discussions with potential buyers for its streaming and television business in India. Among those in talks with Disney are billionaire entrepreneurs Gautam Adani and Kalanithi Maran, according to sources familiar with the matter.
Disney’s senior executives have also been gauging the interest of private equity firms as the company explores various options, which could involve selling a portion of its Indian operations or a combination of assets, including sports rights and the regional streaming service Disney+ Hotstar.
Asset-sale talks have previously taken place with Reliance Industries Ltd., led by Asia’s wealthiest individual, Mukesh Ambani, as reported by Bloomberg News earlier. In July, it was revealed that Disney was evaluating strategic alternatives for its Indian business, including an outright sale or the establishment of a joint venture. This consideration arose after the unit lost its streaming rights to the Indian Premier League cricket tournament to Viacom18 Media Pvt., a joint venture involving Reliance, Paramount Global, and Uday Shankar’s investment firm, Bodhi Tree Systems.
If a deal were to materialize, it could complement Kalanithi Maran’s broadcasting company, Sun TV Network Ltd., and potentially aid the Adani Group in expanding its recently acquired New Delhi Television Ltd. However, it is essential to note that these discussions are still in a very preliminary stage, and there is no assurance that a deal will ultimately be reached.