According to Reuters, Reliance and Walt Disney Company want to sell some channels to grow closer to their planned merger in India.
What's Happening:
- In India, Reliance and the Walt Disney Company want to sell some channels to grow closer to their planned merger.
- The merger has met resistance because of antitrust concerns that it would compete with Sony, Zee Entertainment, Netflix, and Amazon.
- There would be a combined 120 TV channels and two streaming services, making the company worth $8.5 billion.
- The majority owner would be Mukesh Ambani, who is Asia's richest man.
- There are also concerns about cricket rights in India, where the sport is extremely popular.
What They're Saying:
- K.K Sharma, a former head of mergers at CCI, previously stated: "With Disney and Reliance together, hardly anything of cricket will be left … Here, it is not merely dominance but almost an absolute control over cricket."
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