Disney said to be in talks with Adani, Maran to sell India assets
Walt Disney Co. is holding preliminary discussions with potential buyers for its India streaming and television business including billionaires Gautam Adani and Kalanithi Maran, according to people familiar with the matter.
The US entertainment giant’s senior executives have also gauged the interest of private equity funds considering the company is exploring a range of options, which could involve selling part of the Indian operations or a combination of the unit’s assets including sports rights and regional streaming service Disney+ Hotstar, the people said, asking not to be identified because the discussions are private.
Asset-sale talks have already been held with Reliance Industries Ltd., controlled by Asia’s richest person, Mukesh Ambani, Bloomberg News reported earlier on.
Disney has been weighing strategic options for its business in India including an outright sale or setting up a joint venture, Bloomberg News reported in July after the unit lost its streaming rights to the Indian Premier League cricket tournament to Viacom18 Media Pvt.
Viacom is a joint venture between Reliance, Paramount Global and Uday Shankar’s investment firm Bodhi Tree Systems.
A potential acquisition could complement Maran’s broadcasting company, Sun TV Network Ltd., while for the Adani Group, it could help expand its newly acquired New Delhi Television Ltd., the people said. They added that deliberations are still at a very preliminary stage and any deal may not happen.
Representatives for Disney in India declined to comment.
Sun TV Network Group Chief financial Officer S L Narayanan said the group doesn’t comment on market rumours or speculation. A spokesperson for Adani also said they wouldn’t comment on market speculation.
The
