Disney exploring options for Star's India digital & TV business

Global media giant Walt Disney Co is exploring options to find a partner for the TV and digital business of Star India, according to a highly-placed industry source.

Some initial talks have happened to find a joint venture partner or sale of business, which are currently at a very nascent stage, for finding a right partner for Star India, which is struggling here after a poor show in the recently concluded IPL.

The discussions are happening at the global level at Walt Disney's headquarters, the source added.

Disney India declined to comment on this.

This season, Star India had only TV broadcast rights for the T20 cricket tournament, while the streaming rights was with Viacom 18.

Viacom 18, owned jointly by billionaire Mukesh Ambani-led Reliance Industries and Paramount, streamed all matches on its OTT platform JioCinema.

According to experts, this dented the subscriber base of its OTT platform Disney+ Hotstar in India.

Star had lost streaming rights in the high-pitched auction, in which BCCI sold the broadcast rights for the 2023-27 cycle of the IPL for a whopping Rs 48,390 crore.

Disney Star bagged the television rights for the Indian subcontinent for Rs 23,575 crore and Viacom18 got digital rights for Rs 20,500 crore.

Disney's India business consists of a bouquet of Star India channels and OTT platform Disney+ Hotstar. Star has come to Disney's fold after the acquisition of the entertainment assets of 21st Century Fox in 2019.

Earlier, the Wall Street Journal reported that 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.

Citing people familiar with the matter, WSJ said Walt Disney has talked to at least one bank about ways to help the Indian business grow while sharing some of the costs.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)