Blackstone has started negotiations with Walt Disney to buy a share in Disney's Indian division. The action is being taken as Disney searches for a possible partner or buyer in the Indian market. The US media company Candle Media, Indian billionaires Gautam Adani and Kalanithi Maran, and other parties are also interested.
It is reported that Blackstone is considering options to either partially acquire the business—a combination that could include sports assets, media rights, and the Disney+ Hotstar streaming service—or take over the entire portfolio, which comprises the flagship Star India TV network, over-the-top (OTT) services, and a 30 per cent stake in Tata Play (formerly known as Tata Sky).
Former Disney executives, Kevin Mayer and Tom Staggs, who returned in July as advisers at the behest of Chief Executive Bob Iger have been instrumental in initiating talks with Blackstone. After previous stints at Disney, Mayer and Staggs had been running Candle, a media group they co-founded with Blackstone's backing.
Another important aspect facilitating a deal between Disney and Blackstone is Vanguard – it is the second-largest asset manager after BlackRock and the largest shareholder in both companies.
As per source, it is uncertain that the talks between Disney and Blackstone will culminate in a deal. The discussion is in early stage.
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