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Disney pares streaming losses, takes hit from India deal

Livemint

Livemint · 1y ago

Disney pares streaming losses, takes hit from India deal

Disney's streaming unit is getting closer to breaking even this year, with losses decreasing to $18 million in the March quarter compared to $659 million in the same period last year. CEO Bob Iger said the company is on track to achieve streaming profitability by the end of September. Disney+ added over six million subscribers in the quarter, meeting investor expectations. Disney's traditional TV business continues to decline, while its experiences division, which includes theme parks and cruises, saw a 10% increase in revenue. Overall, companywide revenue rose about 1% to $22.08 billion in the March quarter.

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Disney in talks with Adani, Sun TV to sell India assets

Reuters · 1y ago

Disney in talks with Adani, Sun TV to sell India assets

Disney is reportedly in talks with Indian billionaires Gautam Adani and Kalanithi Maran, as well as private equity firms, to sell its streaming and television business in India. The discussions are still in the early stages and no deal has been finalized yet. Disney is exploring options to sell some of its operations in India or potentially form a joint venture. This comes as Disney faces competition from Reliance Industries' streaming platform JioCinema in the Indian market.

RIL Tata JV: Mukesh Ambani's Reliance mulls buying 29% stake in Tata Play

Livemint

Livemint · 1y ago

RIL Tata JV: Mukesh Ambani's Reliance mulls buying 29% stake in Tata Play

Mukesh Ambani's Reliance Industries (RIL) is reportedly in talks to acquire a 29.8% stake in Tata Play, the satellite TV and streaming service owned by Walt Disney. This potential deal would expand RIL's presence in the television distribution sector, potentially creating a major media powerhouse in India. RIL is also in merger talks with Disney to create a media behemoth, with Reliance potentially investing $1.5 billion for a 60% stake. RIL's share price recently hit a record high, propelling its market capitalization to nearly ₹20 lakh crore.

Media empire takes shape, with Reliance-Disney at helm

Livemint

Livemint · 1y ago

Media empire takes shape, with Reliance-Disney at helm

Reliance Industries and The Walt Disney Co. have formed a joint venture to establish a media powerhouse in India's rapidly growing media and entertainment market. The joint venture will merge the operations of Reliance's associate company, Viacom18 Media, with Disney's Star India, and will also receive an investment of INR 11,500 crore from Reliance Industries. The combined entity will have a valuation of INR 70,352 crore and will have exclusive rights to distribute Disney films and content assets in India. The joint venture aims to take on streaming giants like Netflix and Amazon in the Indian market.

Disney Star faces potential $2 Bn downgrade by Reliance amid Zee-Sony fallout

Inc42 · 1y ago

Disney Star faces potential $2 Bn downgrade by Reliance amid Zee-Sony fallout

Disney Star's valuation may face a potential $2 billion hit following the failed merger between Sony and Zee Entertainment. Zee claims that the ICC TV contract with Disney Star was dependent on the successful completion of their merger with Sony. However, Disney Star disputes this claim. Reliance Industries is closely monitoring the situation as it could affect the value of Disney Star, particularly regarding the ICC TV deal. The fallout from Zee disputing a $1.5 billion sub-licensing deal for ICC has raised concerns about Reliance's downgrade of Disney Star.

Reliance, Disney working on terms to merge media operations in India: Report

Livemint

Livemint · 1y ago

Reliance, Disney working on terms to merge media operations in India: Report

Reliance Industries, headed by Mukesh Ambani, is reportedly in talks with Walt Disney Co to merge their media operations in India. Reliance's Viacom18 unit would absorb Disney's Star India through a share swap deal, with Reliance owning a 51% stake and Disney owning 49%. The unit's board is expected to have equal representation from both parties. This merger comes after Disney explored options to sell or find a partner for its India assets. Reliance has been increasing competition in the streaming market by marketing its platform, JioCinema, with free access to the IPL cricket tournament.

Nita Ambani To Likely Helm The Board Of Reliance-Disney India Media Entity

Inc42 · 1y ago

Nita Ambani To Likely Helm The Board Of Reliance-Disney India Media Entity

Mukesh Ambani's wife Nita Ambani is expected to be appointed as the chair of the board for the merged media businesses of Reliance and Disney in India. The deal, which has been in the works for months, will give Reliance a 51-54% stake in the combined entity, with Disney holding around 40% and the remaining 9% owned by Bodhi Tree. The deal, worth $3.5 billion, will create the country's largest media empire, encompassing TV broadcasting, streaming platforms, and rights to major sports tournaments. The merger still needs approval from the Competition Commission of India.

Disney in talks with potential buyers, including Ambani's Reliance to sell its India business

IndianStartupNews

IndianStartupNews · 1y ago

Disney in talks with potential buyers, including Ambani's Reliance to sell its India business

Walt Disney Co. is in early discussions with potential buyers, including Reliance Industries Ltd., for the sale of its streaming and television business in India. Options being considered include selling the entire Disney Star business or a partial transaction involving a combination of assets. This comes after Disney lost the streaming rights for the Indian Premier League cricket tournament to Viacom18 Media. The discussions are still ongoing and may not result in a deal. Reliance stated that it continually assesses opportunities and will disclose information at the appropriate time.

Reliance, Disney complete India media merger valued at $8.5B | TechCrunch

TechCrunch · 9m ago

Reliance, Disney complete India media merger valued at $8.5B | TechCrunch

Reliance and Disney have completed their merger in India, creating an $8.5 billion entertainment giant. The joint venture will control 85% of India's streaming market and half of its television viewership. Reliance will hold 63.16% of the venture, with Disney retaining the rest. The deal combines Reliance's Viacom18 with Disney Star, bringing together streaming platforms JioCinema and Hotstar, along with more than 100 television channels. The merged group will have annual revenue of $3.1 billion and produce 30,000 hours of television content each year. Nita Ambani, wife of Reliance's CEO, will chair the venture.

JioCinema signs exclusive deal with Pokemon for children's shows and movies

Livemint

Livemint · 1y ago

JioCinema signs exclusive deal with Pokemon for children's shows and movies

Reliance's entertainment unit, JioCinema, has signed an exclusive deal with The Pokemon Company, making it the exclusive platform partner for Pokemon's shows and movies in India. JioCinema aims to expand its content offerings and compete with streaming services like Disney and Netflix in the growing Indian streaming market. The deal includes dubbing the content into three Indian languages to cater to a wider audience. JioCinema plans to add around 3,000 hours of children's content, including movies and shows from various production studios.

Reliance-Disney $8.5 billion merger ahead: RIL wins I&B Ministry’s approval for transfer of channels | Mint

Livemint

Livemint · 11m ago

Reliance-Disney $8.5 billion merger ahead: RIL wins I&B Ministry’s approval for transfer of channels | Mint

Reliance Industries has received approval from India's Ministry of Information and Broadcasting for the transfer of channels ahead of its $8.5 billion merger with Disney. The approval is for the transfer of licenses related to non-news and current affairs TV channels, which will be transferred from Viacom 18 Media to Star India. The merger is subject to the conditions set by the Competition Commission of India, which approved the deal in August. Reliance Industries is set to control over 60% of the combined unit, with Disney owning 37%. The merger signals Reliance's dominance in the sector and its entry into digital streaming.

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