Walt Disney Co is exploring strategic options for its TV business in India. According to a report by The Wall Street Journal, the US entertainment giant is open to either outright sale or setting up a joint venture with partners as the TV business faces intensifying competition from local rivals. Disney's business in India includes the popular streaming service Disney+ Hotstar and Star India, which became part of Disney after the acquisition of 21st Century Fox's entertainment assets in 2019.


According to the report, the company has been in negotiations with at least one bank about ways to help the Indian business grow, while sharing some of the costs. The talks are in the early stages and it is unclear which options, if any, Disney might pursue, the report said. 


Disney and several of its competitors are in the midst of a pricey shift away from traditional TV companies and towards streaming, the report noted. Adding that the TV networks are spending lavishly on deals, content, and technology both at home and overseas, with varied results.

 


The pivotal point for Disney in India was when last year it lost streaming right to the Indian Premier League (IPL) to Viacom18 Media Pvt, a joint venture between Paramount Global and Mukesh Ambani’s Reliance Industries Ltd. 


The report citing people familiar with the matter also said that Disney will likely retain control over their content business in the country. 


Reliance, led by Ambani, is among the companies approached for a potential stake sale for Disney, as per the report. Reliance has expanded its entertainment content by partnering with Warner Bros Discovery Inc. in April, and it won the bidding war against Disney Star for the IPL streaming rights.


The decision to consider a pullout follows Disney CEO Bob Iger's expressed disappointment with the company's performance in India during his recent visit to Hong Kong. The loss of streaming rights to Ambani's business has impacted Disney's reputation in India, leading to a decline in paid subscribers.