Disney's Indian Business: Sony initiates talks for potential acquisition

Sony Group has entered discussions with Walt Disney (NYSE: DIS) regarding a potential acquisition of Disney's Indian business.

Sony Pictures Entertainment has initiated these talks as part of a contingency plan for their long-pending acquisition of India's Zee Entertainment, which has encountered obstacles since its announcement nearly two years ago, as reported by The Mint, citing insider sources.

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This development follows Bloomberg's recent disclosure that Disney is exploring various options, including discussions with potential partners, for selling its streaming and television businesses in India.

The media and entertainment conglomerate has engaged in conversations with prominent Indian figures like Gautam Adani and Kalanithi Maran, owner of Sun TV Network. Disney (DIS) has also held discussions with private equity firms and India's richest business tycoon, Mukesh Ambani-led Reliance Industries.

Additionally, Reuters reported that investment management giant Blackstone (BX) is in preliminary negotiations to acquire a stake in Disney's (DIS) India division. These discussions were facilitated by Candle Media, a U.S. media company backed by Blackstone and founded by former Disney (DIS) executives.

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Disney's (DIS) operations in India have faced considerable losses in the past year, primarily attributed to the loss of streaming rights for cricket, a popular sport in the country.