According to sources familiar with the matter, Reliance Industries Ltd, which is controlled by Asia’s richest tycoon Mukesh Ambani, is reportedly close to finalizing a multi-billion dollar deal to acquire Walt Disney Co’s operations in India. The deal is said to involve a combination of cash and stock.
Reliance Industries Ltd, a conglomerate with interests in petrochemicals, refining, and telecommunications, is expanding its presence in the entertainment sector with this potential acquisition. Disney’s operations in India include a popular television network and a streaming service.
The deal with Reliance Industries Ltd would grant the conglomerate access to Disney’s extensive library of content, including its popular franchises and characters. With this acquisition, Reliance Industries Ltd aims to strengthen its position in the Indian entertainment industry, which has witnessed significant growth in recent years.
This move highlights the increasing interest from companies like Reliance Industries Ltd in tapping into India’s vast consumer market. The country’s young population and rising middle class have made it an attractive destination for global entertainment giants looking to expand their footprint.
While the deal is still being finalized, it underscores Reliance Industries Ltd’s ambition to become a major player in the Indian media and entertainment sector. Given the ongoing negotiations, further details regarding the terms and timeline of the deal are awaited.
If successful, this acquisition would mark another significant milestone for Reliance Industries Ltd and add to its already diverse portfolio of businesses.