On Friday, Bloomberg News reported that Disney (DIS.N) had discussed selling its streaming and television business in India with Indian billionaires Gautam Adani and Kalanithi Maran, as well as private equity companies.
The article stated Disney is considering selling part of its Indian businesses or a mix of assets from the unit, citing sources.
Bloomberg stated the talks are early and an agreement may not happen. The article did not speculate on deal value.
Disney, Sun TV, and Gautam Adani’s Adani group did not reply to Reuters’ request for comment.
Reuters reported in July that Disney was considering selling or partnering with its India internet and TV operations.
Disney is under pressure from Mukesh Ambani’s JioCinema, Reliance Industries’ (RELI.NS) streaming business.
Ambani’s streaming website offers free access to the Indian Premier League cricket championship, which Disney owned digitally.
Disney’s India streaming division, its largest internationally by subscribers, lost $41.5 million on $390 million in sales for the year to March 2022, its last reported numbers.
Disney hopes free cricket on cellphones would raise advertising income and counter a subscriber exodus to resurrect its fortunes in the nation.