Mukesh Ambani-led Reliance Industries Ltd (RIL) has agreed to buy 60% in Disney Star’s linear TV and digital businesses in India for $2.28-2.4 billion in a transaction valuing them at $3.8-4 billion, two people aware of the development said.
In the first stage, The Walt Disney Co., Disney Star’s parent and the world’s largest media company, will transfer the Indian TV and digital assets to a new company, the people cited above said on condition of anonymity. RIL will buy 60% stake in this entity.
The transaction will not include Disney Star's 30% stake in direct-to-home (DTH) company Tata Play, consumer products business, and visual effects studio Industrial Light & Magic (ILM), the first of the two people said.
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