Reliance is apparently planning on shelling out billions of dollars to acquire Disney+Hotstar in India. Recent rumors have hinted at Disney exiting the Indian market. For this, the company is also looking to sell its local assets and Reliance might be the buyer.
Reliance May Buy Out Disney+Hotstar
According to the previous report, Disney was in talks with Sun TV, Adani Group, and Reliance Industries for the potential acquisition. Now, the latest rumor hints that the deal could close soon with Mukesh Ambani’s Reliance Group. The transaction would involve Reliance acquiring a major control stake in the business, although both parties are expected to be in the negotiation stage to decide the exact valuation for the deal.
While initial rumors claimed that Disney is looking to completely exit the Indian market, a Bloomberg report believes that the company only wants to sell a controlling stake rather than completely letting go of its Indian unit. The news from Bloomberg adds that Disney is near a multi-billion dollar deal with Reliance Industries. If this deal goes through, then a vast part of the Disney+Hotstar OTT platform, including its TV channels like Star Sports and Star Gold, could fall under Reliance.
Disney is reportedly asking for 10 billion US Dollars for Hotstar and Star India. However, Reliance isn’t agreeing with this evaluation, instead valuing it for around 7 to 8 billion US Dollars. Interestingly enough, the company acquiring Disney+Hotstar implies that the Ambani led group could gain control over the TV streaming rights of cricket in the Indian market. This is a big deal considering the immense popularity of the sport in the region.
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(Via)
