Reliance and Bodhi Tree to Acquire Majority Stake in Disney India Amid Valuation Hit
Reliance is close to merging its India media business with Walt Disney, with Reliance holding a 51%-54% stake and Disney holding 40%, valuing Disney's Indian operations at $3.5 billion. The deal could create a media behemoth in India's $28 billion market, with Bodhi Tree eyeing a 9% stake in the merged entity. Talks are in advanced stages, and the deal could be closed by mid-February, potentially easing antitrust challenges. Disney's struggles in India, particularly in the streaming business and cricket rights, have led to a subscriber exodus, while Reliance's streaming platform has gained traction by offering free cricket.