Disney (DIS) agrees to sell 60% of its India media unit at a $3.9B valuation - WSJDIS +1.05% Add to/Remove from WatchlistWalt Disney Co. (NYSE: ) has struck a preliminary agreement to sell a majority stake in its Indian media division, valuing the unit at $3.9 billion, the Wall Street Journal reported on Thursday. The agreed figure of $3.9 billion for the Indian unit represents a significant drop from its value at the time of Disney's acquisition in 2019. The media and entertainment giant acquired 21st Century Fox's entertainment assets for $71.3 billion, a move that was notably enhanced by the addition of Star India. According to the proposed deal, Disney would retain a 40% stake, with Reliance acquiring 51% and Bodhi Tree taking 9%. The Disney India portfolio includes Star India television networks, the Hotstar streaming platform, and a minority interest in Tata Sky.

Source: Wall Street Journal February 01, 2024 10:59 UTC