Disney nears multibillion-dollar deal with Reliance: Report

Reliance Industries, led by Mukesh Ambani, is reportedly close to a cash and stock deal to acquire Walt Disney’s India operations. The deal is expected to involve the sale of a controlling stake in Disney Star, valued at around $10 billion. Reliance values the assets at $7 billion to $8 billion. The acquisition, which could be announced next month, may involve merging some of Reliance’s media units into Disney Star. Disney is likely to retain a minority stake in the company. Disney’s India streaming platform recently attracted a record 43 million viewers for a cricket match.