Billionaire Mukesh Ambani-led Reliance Industries Set to Acquire Walt Disney’s Indian Business
In a significant move, Reliance Industries, headed by billionaire Mukesh Ambani, is reportedly on the verge of finalizing a deal to acquire the Indian business arm of multinational entertainment giant, Walt Disney. According to The Economic Times, the acquisition will involve a cash and stock deal.
The plan is to sell a controlling stake in Disney Star, a business unit of entertainment giant Walt Disney Co. While Walt Disney values the Indian segment at $1,000 crore (approximately Rs. 83,000 crore), Reliance Industries estimates its worth to be between $700 and $800 million.
Deal Announcement Expected in Early November
The official announcement regarding the acquisition of Walt Disney’s Indian business unit is expected to take place in early November. Additionally, The Economic Times has reported the possibility of merging some media units of Reliance Industries with Disney Star as part of the deal.
Although Walt Disney may retain a minority stake in the acquired Indian business unit, the final decision on the acquisition agreement and company valuation is yet to be reached by both parties. Representatives from both Reliance Industries and Disney Company in India have refrained from commenting on the acquisition news.
A Game Changer in the Entertainment Industry
Walt Disney’s inclination towards this strategic partnership emerged when Reliance Viacom18 Media Pvt Ltd, a joint venture led by Reliance Industries, secured the broadcast rights for the highly popular Indian Premier League cricket tournament.
This potential acquisition is expected to have a significant impact on the Indian entertainment industry, as the combined forces of Reliance Industries and Disney would create synergies and pave the way for new and groundbreaking opportunities in the market.
Billionaire Mukesh Ambani-led Reliance Industries is reportedly nearing a final deal to acquire the Indian business arm of American multinational entertainment giant Walt Disney. The Economic Times said a cash and stock deal was part of the takeover deal.
The plan is to sell a controlling stake in entertainment giant Walt Disney Co’s Disney Star business unit. For this, Walt Disney estimates that the Indian business segment is worth $1,000 crore (roughly Rs. 83,000 crore). But Reliance calculates the value at 700 to 800 million dollars.
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The deal to acquire Walt Disney’s Indian business unit is said to be announced in early November. The Economic Times also reported that some media units of Reliance Industries may be merged with Disney Star as part of the acquisition.
It is learned that Walt Disney could retain a minority stake in the Indian business unit acquired by Reliance under the cash and shares deal being considered between the two parties. However, the two sides have not yet come to a final decision on the acquisition agreement or the value of the company. Meanwhile, the representative of Reliance Industries and Disney Company in India did not want to respond to the acquisition news.
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Walt Disney started thinking about changing the pitch when the joint venture led by Reliance Viacom18 Media Pvt Ltd won the broadcast rights to the Indian Premier League cricket tournament.
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