Reliance Industries Ltd. is "nearing a cash and stock deal to buy Walt Disney Co.’s India operations," according to sources. The entertainment giant "may sell a controlling stake in the Disney Star business," which it values at around $10B, "as opposed to piecemeal transactions weighed earlier." Reliance "views the assets at between" $7B-$8B, sources said. Under the proposal, Disney "will likely continue to hold on to a minority stake" in the Indian company after any cash and stock swap transaction is completed. The deal talks are "illustrative" of Mukesh Ambani's "disruption of India’s entertainment industry" after he scooped up the streaming rights to the Indian Premier League for $2.7B in 2022 (BLOOMBERG NEWS, 10/23).
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