Reliance-backed Viacom18 has reached an agreement to buy 60% of Disney’s India unit, WSJ reported Thursday citing unnamed sources, creating a pathway for the Indian conglomerate to form a $10 billion media giant in the South Asian market.
The deal, which WSJ says will close this month, values Disney’s India unit at $3.9 billion, the report said, less than half of what Disney had originally hoped. Earlier this week, Reliance declined to comment on its engagement with Disney.
