Reliance is reportedly close to acquiring Hotstar from the Disney Group. The deal is expected to be valued at around $8 billion.
Earlier this month, Disney was reportedly looking to sell its Indian assets and exit the region. It was rumoured that Disney was in talks with the Adani Group, Sun TV, and Reliance Industries, to explore potential buyout options.
As per the latest reports, Disney is about the close a deal with Mukesh Ambani’s Reliance Group by selling a major controlling stake. Both parties are said to be in negotiations to decide the valuation of the deal.Disney Is Close to Selling Hotstar to Reliance Industries
Bloomberg News has reported that Disney is nearing to close a multi-billion dollar deal with Reliance Industries, to sell its Indian assets. The deal could include a major part of the Disney+Hotstar OTT platform, along with TV channels like Star Sports and Star Gold.
Previous reports indicated that Disney was looking to sell its entire assets in India. However, Bloomberg says that Disney now wants to sell a controlling stake, rather than selling the Indian division as a whole.
The biggest hurdle in the deal is its valuation. Disney is demanding $10 billion for Hotstar and Star India, but Reliance Industries is valuing the deal between $7-8 billion.
