afaqs! news bureau

Hotstar's owner Novi Digital to merge with Star India: ET

Recently, media reports stated that Blackstone is in talks with Disney for a potential acquisition of Indian streaming and TV assets.

Novi Digital Entertainment, the proprietor of the Disney+ Hotstar streaming service, has commenced proceedings to amalgamate with its parent company, Star India, owned by The Walt Disney Company, according to a recent report from the Economic Times.

As detailed in the report, both entities have officially submitted their merger proposal to the Mumbai division of the National Company Law Tribunal (NCLT). 

The primary objective of this merger is to strategically reorganize their operations in the fields of streaming, broadcasting, and distribution.

In their application, Star and Novi stated that the move would help them achieve economies of scale, enable synergies, increase operational efficiencies, put a greater emphasis on growth, make the best use of resources and lower costs.

These developments occur in conjunction with Walt Disney's pursuit of prospective investors for Star India. Walt Disney has engaged in discussions with entities such as RIL and Blackstone for a potential sale, either partial or full, of Star India, an entity of substantial influence in both linear television and the streaming sector.

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