By Naman Ramachandran
Disney and Reliance to merge Indian media companies in $8.5 billion deal
India's competition regulator has raised concerns over the proposed $8.5 billion merger between Reliance and Walt Disney's media businesses in the country, sources told Reuters on Tuesday.
The Competition Commission of India (CCI) has reportedly flagged potential harm to competition, primarily due to the combined entity's power over cricket broadcasting rights. Cricket is the most popular sport in India, the world's most populous country.
In 2022, Disney failed to win the streaming rights for the 2023-2027 seasons of the lucrative Indian Premier League cricket tournament, which it had been airing on its Disney+ Hotstar streaming service. Reliance’s Jio paid around $3 billion each and picked up the streaming rights, while Disney only secured the paid TV rights. Also in 2022, Disney Star had won Indian TV and digital rights to both men’s and women’s global events organised by the International Cricket Council (ICC) from 2024 to 2027. Now, Reliance and Disney together have a near-stranglehold on cricket rights in India.
