Reliance Industries, controlled by Asia’s richest tycoon Mukesh Ambani, is nearing a cash and stock deal to buy Walt Disney Co.’s India operations, according to people familiar with the matter. The acquisition could be announced as early as next month with some of Reliance’s media units merged into Disney Star, the people said, without providing further details. A representative for Disney in India didn’t respond to a request for comment and a spokesperson for Reliance declined to comment. Disney’s India operationsEven as Disney Star struggled with sliding subscriber numbers, the media group hasn’t ceded the market and had been making investments. Still, Disney’s India streaming platform managed to draw in a record 43 million viewers on Sunday for the men’s Cricket World Cup 2023 match between India and New Zealand, the company said in a statement.

Source: The Hindu October 24, 2023 19:52 UTC