The Walt Disney Company (NYSE:DIS) has held preliminary talks with potential buyers for its India streaming and television business including billionaire Mukesh Ambani's Reliance Industries Limited (NSEI:RELIANCE), according to people familiar with the matter. The US entertainment giant has discussed a range of options with would-be suitors, from a deal for the entire Disney Star business to a piecemeal transaction that may include some combination of its assets including sports rights and regional streaming service Disney+ Hotstar, the people said. Disney has been weighing strategic options for the business including an outright sale or setting up a joint venture, Bloomberg News reported in July after the Indian unit lost its streaming rights to the Indian Premier League cricket tournament to Viacom 18 Media Private Limited, a tie-up between Paramount Global and Reliance.
Disney had approached Reliance about potentially buying a stake in the business, a person familiar with the matter said at the time. Discussions are ongoing and may not lead to any deal, the people said, asking not to be identified as the information is private. Disney could decide to hold onto the assets for longer, they added.
A representative for Disney declined to comment.