Sony in talks for potential purchase of Disney’s india business – report (NYSE:DIS)

Sony Group (NYSE:SONY) has began talks with Walt Disney (NYSE:DIS) a couple of potential buy of its Indian enterprise.

Sony’s Sony Footage Leisure has initiated talks with Disney (DIS) as a part of a contingency plan for its deliberate acquisition of India’s Zee Leisure, which Sony has confronted obstacles finishing because it introduced the acquisition virtually two years in the past, based on a report in The Mint, which cited individuals conversant in the matter.

Disney (DIS) declined to remark to the Mint.

The most recent report comes after Bloomberg reported earlier this month that Disney is claimed to be holding talks with a variety of completely different companions about promoting its streaming and tv companies in India.

The media and leisure big has spoken to Indian billionaires Gautam Adani and Kalanithi Maran, who owns Solar TV Community, based on Bloomberg. Disney (DIS) has additionally spoken to non-public fairness corporations and Reliance, run by the richest man in Asia, Mukesh Ambani.

Reuters additionally reported on Wednesday that funding administration big Blackstone (BX) is in preliminary talks to purchase a stake in Disney’s (DIS) India division. U.S. media firm Candle Media, backed by Blackstone and based by former Disney (DIS) executives, led the talks between the events.

Disney’s (DIS) Indian operations have suffered important losses over the previous 12 months due partly to shedding streaming rights to air cricket, a preferred sport in India.