Hunt for Disney CEO Bob Iger's successor kicks into high gear
Disney delays CEO successor decision, focusing on internal and external candidates like Dana Walden, Josh D'Amaro, and Jimmy Pitaro. Past failures in grooming heir apparent highlighted, as company navigates through a critical leadership transition period. Key Points
Economic Times'Merger deal with RIL undervalued Disney's Star India assets'
It also said that the deal undervalued Disney's Star India assets, leading to a $2 billion impairment. On February 28, Disney and RIL announced the signing of a deal to merge Viacom18 with Star India, which will create the country's biggest media and entertainment business valued at $8.5 billion. Key Points
Economic TimesDisney Star, Viacom18 on a slow start this IPL season as most companies tighten ad budgets
The media-buying head of another firm said the number of clients spending on IPL has seen a decline, prompting Disney Star and Viacom18 to lower their sponsorship outlays. The subdued market has forced Disney Star to lower the sponsorship outlays by 30-40%, the person said. Key Points
Economic TimesRIL to merge Viacom18 with Disney's Star in $8.5bn deal
India Business News: Reliance Industries and Walt Disney have signed a binding pact to merge their media operations in India in an $8.5-billion deal. The merger will create a behemoth with 120 TV channels and two digital OTT platforms. Reliance will own 63% in the merged entity, while Disney will hold the remaining 37%. Nita Ambani will lead the merged company's board. Key Points
Times Of IndiaRIL, Disney merge media ops to create Rs 70K cr behemoth
Industrialist Mukesh Ambani’s wife Nita will head the merged media operations of Walt Disney Co and Reliance Industries, both companies announced... Key Points
The Tribune India
Disney, Reliance to merge India media operations to create Rs 70,000 crore behemoth
Reliance has also agreed to invest Rs 11,500 crore into the joint venture to fight rivals such as Japan’s Sony and Netflix. Walt Disney Co and Reliance Industries... Key Points
The Tribune IndiaReliance and Disney announce $8.5 billion media assets merger in India
Reliance will infuse $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake. Disney will hold about 37%, the companies said in a joint statement. Key Points
ThePrintReliance, Disney announce deal to create $8.5 billion media goliath
Reliance Industries, Viacom 18, and Disney merge Viacom18 and Star India to create a JV valued at Rs 70,352 crore ($8.5 billion). The JV will be one of India's leading media companies, providing entertainment and sports content to over 750 million viewers and exclusive distribution rights for Disney films. Key Points
Economic TimesIt's official! Reliance signs binding merger with Walt Disney; full details here
Reliance Industries, Viacom 18 Media, and Walt Disney partner up to create a joint venture merging Star India and Viacom18, with Reliance investing Rs 11,500 crore ($1.4 billion) into the new enterprise. Key Points
Business TodayReliance, Disney sign binding agreement to form JV, to merge media operations in India
Reliance Industries Limited (“RIL”), Viacom 18 Media Private Limited (“Viacom18”) and The Walt Disney Company (NYSE:DIS) (“Disney”) today announced the signing of binding definitive agreements to form a joint venture (“JV”) that will combine the businesses of Viacom18 and Star India. As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited (“SIPL”) through a court-approved scheme of arrangement. Key Points
Economic Times
Disney shakeup: Sean Bailey exits after 15 years as motion picture president
After 15 years, Sean Bailey is stepping down as president of Disney's motion picture group. David Greenbaum, formerly of Searchlight, is taking over as president of Live Action and 20th Century Studios. Bailey will transition to a producer role. Key Points
Economic TimesDisney Shuffles Film Leadership With Bailey Stepping Down
Walt Disney Co. is overhauling some of the leadership at its troubled movie division, replacing an executive who oversaw a string of disappointments with the head of Searchlight Pictures, the art-house film unit behind such critical successes as Poor Things. Key Points
Hindustan TimesDisney Film President Sean Bailey Is Leaving the Company
Sean Bailey, the longtime president of film production for the Walt Disney Co.’s namesake studio, is leaving the company. Key Points
mintDisney and Reliance said to have signed binding merger pact
Walt Disney Co. and Reliance Industries Ltd. have reportedly signed a binding agreement to merge their media operations in India, with Reliance and its affiliates expected to own at least 61% of the merged entity, and Disney holding the rest. The deal is anticipated to be announced early in the week. The ownership split may change based on the inclusion of Disney's other local assets. Key Points
Economic TimesDisney, Reliance merger discussions reach last lap as Feb 17 exclusivity deadline draws near
RIL Group to hold direct stake as well, invest up to $1.5 bn cash; new merged co to be arm of Viacom 18. Reliance executives are also working on a three-year capital allocation programme for all businesses to be presented shortly to the board. The proposal, as of now, is to create a step-down subsidiary of Viacom18 Media, which will absorb Star India via a stock swap, they said. Both businesses are being treated as similar-sized ones, valued at $4-5 billion each, so RIL will be paying cash for controlling stake. Key Points
Economic Times
Disney reaches pact to sell 60% in India unit to Viacom18: Report
In December 2023, Reliance Industries and Walt Disney had held extensive talks to merge their Indian entertainment operations. However, the companies did not reach any broad agreement on structures or valuations at that time. Key Points
Business TodayReliance has no comments if Disney India unit valuation halved to $4.5 billion
Reliance Industries cannot comment on reports of the proposed merger between Walt Disney Co.'s India unit and Mukesh Ambani's media business. Disney's India assets are valued at $4.5 billion, lower than the previously pursued $10 billion. The valuation dip is partly due to a revenue write-off from the sale of cricket TV rights to Zee Entertainment Enterprises. Key Points
Economic TimesDisney’s India unit valuation halves in Ambani merger talks
Walt Disney Co.'s India unit faces challenges in its proposed merger with Mukesh Ambani's media business, reflecting the struggle global media giants face in India's entertainment market. The valuation of Disney's India assets is around $4.5 billion, less than the $10 billion previously pursued. The lower figure is also due to a write-off of revenue from Zee Entertainment Enterprises Ltd. Key Points
Economic TimesDisney Star faces unusual fallout: A potential $2-billion downgrade by Reliance amidst Zee-Sony turmoil
Zee Entertainment Enterprises disputing its obligations to honour a $1.5-billion sub-licensing deal for the International Cricket Council (ICC) has raised the likelihood of an up to $2-billion downgrade of Disney Star by Reliance, on anticipated losses from the media rights agreement, people privy to the development told ET. Key Points
Economic TimesReliance, Disney start antitrust diligence on India media merger
Indian billionaire Mukesh Ambani's Reliance Industries and Walt Disney have appointed law firms and started antitrust due diligence for their planned Indian media and entertainment merger. Reliance has appointed Khaitan & Co and Shardul Amarchand Mangaldas, while Disney has hired AZB & Partners. The merger is expected to face antitrust challenges and intense scrutiny Key Points
Economic Times
The rise of Universal Studios: How they beat Disney as the top-earning studio of 2023
The success can be attributed to a diverse lineup of 24 films, including popular blockbusters such as The Super Mario Bros. Movie, Oppenheimer, and M3GAN. These movies collectively raked in an incredible $4.907 billion in ticket sales worldwide. On the other hand, Disney, which has been a dominant force in the global box office, had to settle for second place with earnings of $4.827 billion from 17 new releases. Key Points
Economic TimesReliance, Disney sign non-binding agreement for mega deal: Report
Reliance-Disney deal: Reliance is expected to be the larger shareholder with at least 51 per cent, while Disney will own 49 per cent in the merged company. JioCinema will also be part of the deal. Key Points
Business TodayReliance, Disney ink non-binding agreement for mega merger
Kevin Mayer, a former Disney executive brought back in July by chief executive Bob Iger as an adviser to help him navigate the companys legacy television business and the ESPN sports network and Manoj Modi, a close confidante of Ambani, were among those present in the meeting. Both have been negotiating for months now to finalise the term sheet document. Key Points
Economic TimesHonest mistake! Family buys $10,000 gift cards for Disney tips, only to realize they're for Disney+
Read about how a family's long-awaited Disney trip almost got derailed due to a major gift card mix-up. Find out how they managed to resolve the issue and enjoy their vacation. Key Points
Economic TimesWhat 'Pocahontas' tells us about Disney, for better and worse
If we are going to look back at Disney's history with animated movies, however, as the company has invited people to do with its 100th-anniversary bash, the problem films should be part of the discussion. To wrestle with Disney and its legacy -- the good and the bad, the past and the present -- the misfires sometimes offer as much insight as the masterworks. Key Points
Economic Times
In numbers: Reliance and Disney's streaming and TV assets in India
Viacom18 has the TV rights for domestic and international matches run by the Board of Control for Cricket in India. Disney has TV rights for the popular Indian Premier League (IPL) until 2027. Key Points
Economic TimesDisney, Reliance plan London meeting for India media merger talks-sources
Billionaire Mukesh Ambani's Reliance Industries (RELI.NS) and U.S. giant Walt Disney (DIS.N) are discussing a plan to hold next-stage talks about their India media business merger in London next week, two people familiar with the matter said. Key Points
ReutersDisney, Reliance working on terms of India media operations merger - ET
Reliance Industries (RELI.NS), India's most valuable company, and Walt Disney Co (DIS.N) are finalising details of a non-binding term sheet to merge their Indian media operations, the Economic Times reported on Tuesday citing executives involved in the deal. Key Points
ReutersA Disney World Survival Kit: 7 Gadgets to Make Your Trip Cheaper and More Comfortable
The House of Mouse can strain your nerves and your wallet. Our resident thrifty father shares the tools he’s relied on. Key Points
mintDisney plans worldwide expansion: Vision unveiled with Frozen, know what’s next
Celebrating a decade of Frozen, Disney unveils a $60 billion investment plan, promising transformative experiences. With World of Frozen enchanting Hong Kong Disneyland, the ambitious vision spans enhanced parks, cruise lines, and new realms. Key Points
Economic TimesMan used Disney corporate card to buy $24K in drugs; didn't get fired
He spent $24,000 on drugs using Disney's corporate credit card. The company gave him a second chance instead of firing him. He later went to rehab. Key Points
InsiderDisney to beta launch Disney+/Hulu, CEO Bob Iger wants parents ‘to prepare’
Disney ain't about just princes and princesses anymore. Apparently, they've decided to spice it up. Get to know more below. Key Points
Hindustan TimesThe beta version of Disney+ and Hulu's combined app will be released in December
People have to no longer wait as the merger of Hulu and Disney+ is coming very soon. CEO of Disney said that the merger is not very big because not every show will be combined in a single platform but this merger will definitely help users to simply their content. Key Points
Economic TimesDisney names PepsiCo veteran Hugh Johnston as CFO
Walt Disney (DIS.N) on Monday named PepsiCo (PEP.O) veteran Hugh Johnston as its chief financial officer, strengthening top boss Bob Iger's hands as he tries to turn around the media giant facing a decline in its cable business and investor pressure. Key Points
ReutersDisney to acquire complete control of Hulu for roughly $8.6 billion
Disney to Acquire 33% Stake in Hulu from Comcast for $8.6B. | World News Key Points
Hindustan Times
Disney to complete takeover of Hulu with $8.6 bn deal
International Business News: The Walt Disney Company will acquire Comcast's $8.6 billion stake in Hulu, completing its takeover of the streaming service. The deal values Hulu at $ Key Points
Times Of IndiaDisney World Resort in Florida hosts first-ever Diwali celebration
Diwali event was inaugurated by none other than Walt Disney's beloved characters, Mickey Mouse and Minnie Mouse, alongside specially-abled children. Over 1,000 guests immersed themselves in the sights and sounds of Diwali. Key Points
Economic TimesDisney Dreamlight Valley November 2023 Showcase: See how to watch, what to expect and more
In November 2023, catch Disney Dreamlight Valley's showcase, featuring popular characters. The game stays paid despite initial plans for a free-to-play transition. Key Points
Economic TimesReliance-Disney deal likely to face a valuation hurdle
Reliance Industries (RIL) and The Walt Disney Company are facing difficulties in reaching a deal for Disney's India operations due to a significant difference in their valuations. While RIL values Disney Star at $3-4 billion, Disney is seeking a valuation of $10 billion. The factors against Disney Star include a decline in the paid subscriber base of Disney+ Hotstar. Key Points
Economic TimesDisney said to near multibillion-dollar India deal with Reliance
The US entertainment giant may sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to piecemeal transactions weighed earlier, the people said, asking not to be named because the discussions are private. Reliance views the assets at between $7 billion to $8 billion, some of the people said. Key Points
Economic Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/SXZUQ2236FN2FLEQZPVETAGLXM.jpg)
Reliance nears deal to buy Disney's India business -Bloomberg News
Disney (DIS.N) is nearing a deal to sell its India operations to Reliance Industries (RELI.NS), the Mukesh Ambani-controlled conglomerate whose streaming platform's success has weighed on the U.S. company's business, Bloomberg News reported on Monday. Key Points
Reuters100 Years Of Disney: Company airs short titled ‘Once Upon a Studio’ to celebrate
Walt Disney is celebrating 100 years today. The company aired a short to celebrate the milestone. Watch it below. Key Points
Hindustan TimesIndia-Pakistan World Cup match breaks global streaming record on Disney Hotstar
The India-Pakistan cricket World Cup match on Saturday achieved a new global streaming record on Disney Hotstar, with 3.5 crore concurrent viewers. Key Points
India TodayDisney restaurant-reservation hack: Try sitting at the bar
Trying to get into Disney restaurants without a reservation can be tough. Using this seating hack can allow you to eat where you want on your Disney vacation. Key Points
InsiderDisney said to be in talks with Adani, Maran to sell India assets
Walt Disney Co. is in preliminary discussions with potential buyers, including billionaires Gautam Adani and Kalanithi Maran, for its India streaming and television business. Private equity funds have also expressed interest. Discussions involve selling part of the Indian operations, including sports rights and regional streaming service Disney+ Hotstar. Asset-sale talks have already been held with Reliance Industries Ltd. Disney is exploring strategic options for its business in India, including an outright sale or setting up a joint venture. Key Points
Economic Times
Woman sues Disney for $50,000: All about 'injurious wedgie' incident on Typhoon Lagoon Waterslide in 2019
Emma's legal complaint claims that Disney did not effectively communicate essential safety guidelines, particularly the significance of crossing one's legs. It highlights the increased vulnerability of women to injuries due to their anatomy and swimwear. Key Points
Economic TimesDisney's Wish: All you need to know about the 100th-anniversary celebration film | Release, cast, plot
Wish unfolds in the fantastical realm of Rosas, where King Magnifico (voiced by Chris Pine) possesses the remarkable ability to fulfill any wish. His extraordinary gift endears him to his subjects, including his 17-year-old apprentice, Asha (voiced by Ariana DeBose). Key Points
Economic TimesIndian tycoon Ambani bags new $721 mln cricket rights in faceoff with Disney
Indian billionaire Mukesh Ambani's broadcasting unit has won rights to televise and live stream the Indian cricket team's bilateral matches for $721.41 million, in what is the latest face off in a cricket mad nation with Walt Disney , which earlier held these rights. Key Points
ReutersDisney gambles on free cricket to turn the tables in India's streaming war
The India streaming operations, which were Disney's biggest last year globally by users, posted a loss of $41.5 million on revenue of $390 million for the year to March 2022, its last disclosed results. Key Points
Economic TimesDisney gambles on free cricket to turn the tables in India streaming war
Walt Disney (DIS.N) is attempting to revive the fortunes of its streaming business in India by offering free cricket on smartphones, betting that the strategy will boost advertising revenue and offset the impact of a subscriber exodus. Key Points
Reuters
Walt Disney: How difficult will it be for Bob Iger to turn the company around?
The CEO has acknowledged that the task of turning around the Disney business has proven more challenging than he anticipated. Over the past year, Disney's stock price has fallen by 30%. On August 25, the stock closed at $83.27, mirroring levels last seen in May 2014. Key Points
Economic TimesDisney+ Hotstar sees user exodus as IPL rights end
Walt Disney Co. said the subscriber base at its video streaming platform shrank 24% from 52.9 million to 40.4 million, the sharpest fall in any quarter yet. Key Points
mintDisney+ Hotstar loses 12.5 million subscribers; CEO sheds light on 'strategic' options for TV business
Disney+ has witnessed a decline in subscribers for the third consecutive quarter, reportedly because of the loss of streaming rights to the IPL cricket tournament in India, where 12.5 million paid subscribers were lost. The decline prompted CEO Bob Iger to announce October price rises for the company's ad-free Disney+ and Hulu plans, and measures to crack down on password sharing. Some analysts believe the moves could aid the company towards sustainable growth. Key Points
Economic TimesDisney hikes prices for ad-free Disney+ and Hulu services and vows crackdown on password sharing
Disney plans to hike monthly charges for its ad-free Disney+ by $3 to almost $14, a 27% increase, and ad-free Hulu by $3 to almost $18, a 20% hike that will make it more costly than comparable Netflix tiers. The crackdown on password sharing is also expected to extend to next year. Key Points
Economic Times