Reliance Industries, led by Mukesh Ambani, is in talks to acquire Disney+Hotstar’s India business. This move comes as Disney is reportedly considering exiting the Indian market and selling its local assets.
The Reliance & Disney+Hotstar Deal: Why Reliance is set to acquire Disney+Hotstar?
Reliance is going to acquire Disney+Hotstar. According to reports, Reliance Industries is in the negotiation stage with Disney to decide the exact valuation for the deal. Disney is asking for 10 billion US Dollars for Hotstar and Star India, while Reliance values it at around 7 to 8 billion US Dollars.
The transaction would involve Reliance acquiring a major control stake in the business, including its TV channels like Star Sports and Star Gold.
The Impact on the Indian OTT Market
If the deal goes through, Reliance would gain control over the TV streaming rights of cricket in the Indian market, which is a significant development considering the immense popularity of the sport in the region. This move could also disrupt the streaming game in India, with Reliance’s JioCinema becoming a major player in the market.
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The Competition Between JioCinema & Disney+Hotstar
Reliance Industries’ streaming platform JioCinema has been growing in popularity, and this acquisition could further strengthen its position in the market. The deal comes after Ambani’s JioCinema scored a massive streaming deal worth $2.7 billion in 2022 to obtain the rights of the Indian Premier League (IPL). In a surprising move, JioCinema aired the IPL for free this year, attracting a large audience.
The potential acquisition of Disney+Hotstar’s India business by Reliance Industries is a significant development that could reshape the Indian entertainment landscape. The deal would not only strengthen Reliance’s position in the market but also give it control over the TV streaming rights of cricket, which is immensely popular in the region.
As the negotiations continue, it will be interesting to see how the deal unfolds and what impact it will have on the Indian entertainment industry.