Disney is said to be finalising a deal to sell its India operations to Mukesh Ambani's Reliance Industries.
There were earlier reports that said the US-based media house had held preliminary talks with billionaires Gautam Adani and Sun TV Network owner Kalanithi Maran to find potential buyers for its streaming and television business in India.
Disney is expected to sell its Disney Star business to Mukesh Ambani-controlled group whose streaming platform had eaten into the customer base of Disney+ Hotstar, a Bloomberg report said. JioCinema is a direct competition to Disney + Hotstar as it offers free access to the Indian Premier League matches for free.
The deal is likely to be announced by next month.
Disney is likely to hold a minority stake in the India business if the deal goes through.
However, according to the Bloomberg report, the deal hasn't yet been finalised and Disney could still decide not to sell its assets.
Both Disney and Reliance are yet to react to the report.