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Homechevron_rightBusinesschevron_rightBlackstone in talks...

Blackstone in talks with Walt Disney for stake in Disney+ Hotstar and TV business in India

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Private equity firm Blackstone has initiated preliminary discussions with Walt Disney regarding the potential acquisition of a stake in Disney's Indian operations.

The Indian entertainment market is highly competitive, and Disney has been exploring various options, including a sale or a joint venture partner for its digital and TV business in the country, reported Reuters.

Blackstone has now joined the list of prospective investors looking to partner with Disney in India. However, both Blackstone and Disney have declined to comment on the matter. Conversations between the two parties were led by Candle Media, a US media firm backed by Blackstone, founded by former Disney executives.

Indian newspaper The Economic Times was the first to report on these discussions, adding to recent reports that Disney has also engaged in talks with prominent Indian billionaires Gautam Adani and Kalanithi Maran, the owner of Sun TV Network.

As Disney faces increased subscriber churn, the company has been working to revive its streaming business in India. One of its strategies involves offering free cricket content on smartphones with the expectation that this move will boost advertising revenue. However, Disney has faced challenges as it lost streaming rights for key cricket tournaments to Mukesh Ambani's broadcasting unit, including the lucrative Indian Premier League and the national cricket team's bilateral matches.

In an effort to counteract password sharing, Disney's Indian streaming service, Disney+ Hotstar, has been planning to implement a policy that restricts premium users to logging in from only four devices. This move is aimed at controlling account sharing and protecting Disney's revenue in this critical market.

Notably, Netflix initiated a similar policy in May, informing subscribers in more than 100 countries that they would need to pay more to share their accounts with individuals outside their households.

As the entertainment industry in India continues to evolve, Disney is exploring various avenues to ensure its competitiveness and expansion in the market. The talks with Blackstone represent the latest step in this strategic journey.

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TAGS:HotstarDisney+BlackstoneWalt Disney
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