Sony Pictures Entertainment (SPE), the global entertainment unit of Japan's Sony Group Corp., has initiated talks with Walt Disney Co. about a potential acquisition of its India business, said two people with direct knowledge of the matter.
The preliminary discussions with Disney are part of Sony's contingency plan in case its ongoing merger agreement with Zee Entertainment Enterprises Ltd faces inordinate delay or collapses, the people said, requesting anonymity.
"The merger with Zee is in the works for almost two years and has seen its fair share of hiccups. SPE's parent in Japan is getting frustrated with the delay and has asked to be prepared with a Plan B," one of the people said.
Disney Star is a leading entertainment company in India. It operates more than 70 multilingual TV channels and the popular Disney+Hotstar online streaming service.
Several entities, including Reliance Industries (the owner of Viacom18), the Adani Group, and Sun TV Network, have explored the acquisition, either in full or in part, of Disney's Indian business.
Disney declined to comment on Mint's queries; questions mailed to SPE remained unanswered.
Industry experts said Disney's India business may fetch only a fraction of its previous value given the evolving media and entertainment landscape globally and in India. While the linear entertainment business generates over $500 million in profits, the sports and digital segments have incurred losses. When Disney acquired Star India as part of its $71.3 billion deal to acquire Rupert Murdoch-owned 21st Century Fox, the Indian business was valued at $17 billion.
Bu hikaye Mint Mumbai dergisinin October 16, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Mint Mumbai dergisinin October 16, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
A counterintuitive view on education
A book about Shomie Das, principal of three posh schools, serves as a rich distillation of his thoughts on education
The loss of sound in our noisy lives
Sound memory fades faster than visual memory. In a world as rapidly changing as ours, a museum of endangered sounds makes sense
A whole new League
When Arcane first dropped on Netflix, it didn't just break the mold for animated television—it shattered it into shiny fragments, each as intricate as the show's hand-painted aesthetic.
When pets get cancer
Advances in veterinary sciences have enabled several treatments, but early detection can make all the difference
Reduction of energy costs in the telecom sector
With telecom infrastructure companies looking for newer ways to cut back on energy costs, battery restoration technology provides telecom infrastructure firms with a viable, economical and green solution for uninterrupted power supply
Skip cheese and sip wine in Switzerland
Beyond chocolates and cheese, there's another Swiss gem to discover — vineyards that have been passed down through the generations
Bankers aren't always frank about bank regulation
The 'world's banker' Jamie Dimon, CEO of JPMorgan Chase, speaks his mind even if it means taking swipes at US regulators.
Baku: A climate breakthrough looks depressingly bleak today
The success of fossil fuel-favouring politics threatens the planet
Global solidarity levies can play a vital role in our climate efforts
Solidarity taxes could support redistributive measures and optimize how we collectively tackle a great challenge of our times
Speak for the Earth: It's the least we should do
This year's Booker prize winner turns our gaze to the planet from orbit and reminds us of the climate disaster that looms. Can odes sung to Earth move the world to act in its defence?
