Mukesh Ambani, Asia’s richest tycoon and owner of Reliance Industries Limited, is preparing to buy the India business of Walt Disney Company. According to the report, this deal is in the final stages. American entertainment giant Disney Star plans to sell a part of its India business to Mukesh Ambani. Whose estimated value is Rs 83,100 crore, i.e. 10 billion dollars.
The Deal Can Be Finalized Between Rs 58,100 Crore To Rs 66,400 Crore.
According to a report, American entertainment giant Disney Star will sell a controlling stake in its business in India, valuing it at around Rs 83,100 crore ($10 billion). However, it is being told that Mukesh Ambani can make this deal between Rs 58,100 crore and Rs 66,400 crore (7 billion to 8 billion dollars). This acquisition can be announced as early as next month, in which some of the media units of Reliance will be merged with Disney Star.
The Company Is Considering Other Options For Business
According to the report, no final decision has been made on the deal or valuation, and Disney may still decide to hold on to the properties for some more time. A company spokesperson said in an email reply that Reliance evaluates various opportunities continuously and will make necessary disclosures as required.
A Disney representative in India did not respond to a request for comment. The negotiation of the deal is an example of how Ambani has created a stir in India’s entertainment industry after acquiring the streaming rights of the Indian Premier League in 2022 for Rs 22,400 crore ($2.7 billion).
Mukesh Ambani’s JioCinema platform then opted to telecast the hugely popular domestic cricket tournament. Reliance then scored another win by securing a multi-year deal to air Warner Bros. Discovery Inc.’s HBO shows in India, content that was previously with Disney. Even though Disney Star is struggling with declining subscriber numbers, the media conglomerate has not given up on the market and is investing.
Bloomberg News reported in July that the company was considering other options for the business, including an outright sale or setting up a joint venture. Disney’s India streaming platform managed to attract a record 43 million viewers for the Men’s Cricket World Cup 2023 match between India and New Zealand on Sunday, the company said in a statement. This was more than the 35 million viewership of the much-awaited India-Pakistan match earlier this month.
