Blackstone in Preliminary Talks with Disney for Stake in Indian Arm: Sources
Private Equity Firm Blackstone Explores Investment in Disney’s Indian Arm
Private equity firm Blackstone has engaged in initial discussions with Walt Disney to potentially acquire a stake in the Indian branch of the entertainment giant, according to two sources familiar with the matter. The move comes as Disney seeks to find a sale or joint venture partner for its digital and TV business in the fiercely competitive Indian market.
Blackstone Emerges as Latest Suitor in Indian Market
Blackstone’s interest in Disney’s assets in India follows discussions held between the two parties last week, led by Blackstone-backed U.S. media firm Candle Media. This development comes after reports of talks between Disney and Indian billionaires Gautam Adani and Kalanithi Maran. However, both Blackstone and Disney have declined to comment on the matter.
Disney’s Strategy to Revitalize Streaming Business in India
With a decline in subscribers, Disney is looking to revive its streaming business in India. The company plans to attract more viewers by offering free access to cricket matches on smartphones, hoping this strategy will lead to increased advertising revenue. Nonetheless, Disney has lost streaming rights for crucial cricket tournaments, including the Indian Premier League and the national cricket team’s bilateral matches, to Indian billionaire Mukesh Ambani’s broadcasting unit.
In conclusion, Blackstone’s potential investment in Disney’s Indian arm could significantly impact the entertainment landscape in the country. As negotiations progress, it remains to be seen how this venture will unfold and what it could mean for the future of Disney’s operations in India.