Blackstone in talks with Disney for potential acquisition of Indian streaming and TV Assets : Reports

In a strategic move, Blackstone, a prominent private equity firm, has initiated discussions with entertainment giant Walt Disney Co regarding the possible acquisition of Disney's extensive streaming and television operations in India. Sources close to the matter revealed that Blackstone is actively exploring various options, including the partial acquisition of Disney's business. This partial acquisition could encompass coveted sports assets, valuable media rights, and the popular Disney+ Hotstar streaming service. Alternatively, Blackstone is considering the possibility of acquiring the entire portfolio, which notably includes the flagship Star India TV network, a suite of over-the-top (OTT) services, and a 30% stake in Tata Play (formerly known as Tata Sky).

Facilitating these talks are industry veterans Kevin Mayer and Tom Staggs, both former Disney executives who returned as advisors in July under the guidance of Disney's chief executive, Bob Iger. Mayer and Staggs had previously co-founded the Candle media group, with Blackstone's backing. Notably, Staggs, who held key roles as Disney's CFO and COO, oversaw the theme park division, while Mayer, once a potential successor to Iger, played a pivotal role in shaping Disney's streaming strategy and was instrumental in key acquisitions.

Vanguard, the world's second-largest asset manager, could play a role in a potential deal between Blackstone and Disney. Blackstone is interested in Disney's India business, but it is unclear if they are considering a global transaction. Disney has been struggling with a large debt load and declining share prices. In response, Disney's CEO has announced plans to reduce costs and is exploring options for legacy television networks like ABC.

While these discussions are ongoing, there is no guarantee that they will culminate in a deal. Therefore, it's too early to delve into valuation figures at this stage.

On July 11th, the Wall Street Journal reported that Disney is actively considering various strategic options for its Star India division, which may include potential joint ventures or even an outright sale."