The Walt Disney Company has held preliminary talks with potential buyers for its India streaming and television business, Bloomberg reports, quoting “people familiar with the matter”.
The US media and entertainment behemoth has discussed a range of options with would-be suitors, from a deal for the entire Disney Star business to a piecemeal transaction that may include some combination of its assets including sports rights and regional streaming service Disney+ Hotstar, said people told the business news agency.
Disney has been weighing strategic options for the business including an outright sale or setting up a joint venture, Bloomberg News reported in July after the Indian unit lost its streaming rights to the Indian Premier League to Reliance-controlled Viacom18,
A spokesperson for Reliance told Bloomberg the company “evaluates various opportunities on an ongoing basis” and will make the required disclosures “when necessary”.
Though Disney Star has seen declining subscriber numbers after losing the IPL streaming rights, it hasn’t ceded the entire cricket business, securing the television rights through 2027. Last year it agreed to license the TV rights for International Cricket Council men’s matches to ZEE Entertainment for four years, with Disney+ Hotstar retaining the digital rights.
JioCinema, the streaming service backed by Reliance, had made the this year’s edition of the IPL free to watch on the platform, completely shaking up the industry.
