Private fairness agency Blackstone has held preliminary discussions with Walt Disney to purchase a stake in the Indian arm of the leisure agency, two sources conversant in the matter informed Reuters on Wednesday.
Blackstone is the newest suitor for Disney’s property in the hyper aggressive Indian market, the place it has been exploring a sale or a three way partnership companion for the digital and TV enterprise.
Blackstone and Disney declined to remark.
Blackstone-backed US media agency Candle Media, based by former Disney executives, led conversations between the 2 events final week, one of many sources mentioned.
Indian newspaper The Economic Times first reported the talks earlier on Wednesday. Disney has additionally held talks with Indian billionaires Gautam Adani and Sun TV Network proprietor Kalanithi Maran, Bloomberg News reported final week.
With subscriber exits accelerating, Disney has sought to revive the fortunes of its streaming enterprise in India by providing free cricket on smartphones, betting that the technique will enhance promoting income.
It has in the meantime misplaced streaming rights for some key cricket tournaments to Indian billionaire Mukesh Ambani’s broadcasting unit – together with the Indian Premier League and the nationwide cricket workforce’s bilateral matches.
In July, it was reported that Disney’s India streaming service Disney+ Hotstar was planning to begin imposing a coverage of permitting its premium customers to login from solely 4 gadgets, in an effort to restrict password sharing in the important thing market.
Disney’s rival Netflix in May began telling subscribers in greater than 100 nations they’ll want to pay extra to share the service with individuals exterior their family.
© Thomson Reuters 2023
