Reliance Industries Ltd., controlled by Asia’s richest tycoon Mukesh Ambani, is nearing a cash and stock deal to buy Walt Disney Co.’s India operations, according to people familiar with the matter. The U.S. entertainment giant may sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to piecemeal transactions weighed earlier, the people said, asking not to be named because the discussions are private.
Reliance “evaluates various opportunities on an ongoing basis” and will make necessary disclosures as required, a spokesperson for the company said in an emailed reply. A representative for Disney in India didn’t respond to a request for comment. The deal talks are illustrative of Ambani’s disruption of India’s entertainment industry after he scooped up the streaming rights to the Indian Premier League for $2.7 billion in 2022.
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