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Disney explores strategic options for India business
Mint Mumbai
|July 13, 2023
Disney is exploring strategic options for its Star India business, including a joint venture or a sale, a sign of strain at one of the premier properties it acquired from Fox.
The company has talked to at least one bank about ways to help the India business grow, while sharing some of the costs, according to people familiar with the matter. The talks are in the early stages and it is unclear which options, if any, Disney might pursue.
Disney and many of its rivals are in the throes of a costly pivot toward streaming and away from traditional TV businesses. Toward that effort, they spent heavily on deals, content and technology at home and abroad, with mixed success.
Disney paid $71.3 billion in 2019 for entertainment assets of 21st Century Fox. At the time, Star India was considered one of Fox’s crown jewels, and it was an important part of Disney’s plan to build out its fledgling streaming business globally.
This story is from the July 13, 2023 edition of Mint Mumbai.
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