Sources Say Reliance, Bodhi Tree Set for 60% Stake in Disney India Merger

Billionaire Mukesh Ambani’s Reliance is close to merging its India media business with Walt Disney with a 51%-54% stake, a deal that values the U.S. giant’s Indian operations at just $3.5 billion, said three sources with direct knowledge.

The valuation of Disney’s India unit is sharply lower than the $15-$16 billion estimated when Disney acquired it in 2019. Disney’s TV and streaming business in India has struggled over the years, with its digital platform facing a user exodus in stiff competition over cricket streaming with Ambani’s platform.

The deal will strengthen Reliance’s hold over India’s $28 billion media and entertainment market, especially after a separate $10 billion merger deal between Japan’s Sony and India’s Zee Entertainment collapsed last week.

Read the source article at Yahoo News