Walt Disney: It is a curtain call for the entertainment giant’s India operations (X Photo)
Adani, Sun TV potential buyers for Disney's India operations: Report
Hit by financial losses, particularly after the company lost IPL rights to competitor Viacom18 Media, the company has decided to sell its Indian assets
Walt Disney, the US entertainment giant, is looking for buyers to sell its India operations, particularly its streaming and television business.
As per a media Bloomberg News report, the company is in talks with industrialist Gautam Adani and Sun TV Network owner Kalanithi Maran. The company’s India operations had posted a loss of $41.5 in the last fiscal ending March 2022. Walt Disney executives have also approached private equity firms to gauge their interest.
According to a Bloomberg News report, talks with potential buyers are at the initial stage. The company is looking at various options, including selling part of Indian business operations. It is also weighing options to dispose of part of its assets, including sports rights and Hotstar.
In July this year, reports suggested the company was scouting for partners for its India digital business and TV business operations after Disney India lost streaming rights of IPL cricket tournament to Viacom18 Media, partly owned by Mukesh Ambani. However, the talk did not see any results.
The US entertainment giant, with a market capitalisation of $147.86 billion and assets worth more than $200 billion, began its India operations in 1993
