Disney in talks to sell assets in India to Sun TV, billionaire Gautam Adani

Dhesegaan Bala Krishnan

8 October 2023 at 11:24 pm·1-min read

KUALA LUMPUR, Oct 9 —Walt Disney Co. is reportedly holding talks with Indian billionaire Gautam Adani and the Sun TV Network to sell its Indian assets.

According to a Bloomberg News the discussions are still at preliminary level with the potential buyers and a deal might not even take place.

Disney's assets in India comprises the Disney+ Hotstar streaming service and the Star India network (that was rebranded as Disney Star in April 2022).

Last month, Bloomberg reported that Disney also engaged with Reliance Industries, owned by Asia's richest man Mukesh Ambani.

Disney's decision to quit the India market comes after JioCinema, a streaming platform run by Ambani's Viacom 18, wrested Disney's streaming rights to the Indian Premier League (IPL) cricket tournament last year.

In August, Forbes reported that Disney+ Hotstar has been losing subscribers in India for three consecutive quarters since October 2022, primarily due to the lack of cricket content.

The streaming platform lost 12.5 million Indian subscribers in the quarter ending June 2023 alone.

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