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Disney rút lui khỏi Ấn Độ trong thương vụ lớn với Reliance Industries
02 Mar, 2024
Reliance Industries của Mukesh Ambani kiểm soát phần còn lại của Disney tại thị trường truyền thông đang phát triển ở Ấn Độ
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Reliance Industries, which is owned by Mukesh Ambani, India’s richest person, will be Disney’s senior partner in the deal. With $239 billion in market capitalization (vốn hóa thị trường) and rights to the wildly popular (cực kỳ phổ biến) Indian Premier League cricket matches, Reliance is a juggernaut (sức mạnh áp đảo) in the media landscape (bối cảnh truyền thông) in India.
Disney and Reliance already had a combined market (thị trường kết hợp) share of about 40 to 45 percent in advertising and about the same fraction (phân số) of streaming, giving them a big edge over competitors, said Karan Taurani, a research analyst at Elara Capital.
As part of the deal, Disney will merge its Indian operations with those of Viacom18, a part of Reliance Industries. Reliance and Viacom18 will hold 63 percent of the new venture, and Disney 37 percent, the companies said in a statement. Reliance will pay $1.4 billion to consolidate (củng cố) its control.
Disney is one of the biggest of companies in the world, valued at $200 billion; in India, though, it proved no match for the homegrown hero.
When Reliance was started by Mr. Ambani’s father in 1958, it was a trading shop (cửa hàng buôn bán), mainly of polyester fiber (sợi polyester). It grew into petrochemicals (hóa dầu) and now runs the world’s largest oil refinery at the port in Jamnagar, on a remote bit of India’s western coastline. Along the way, it got into telecommunications and other businesses, and in 2016 started a low-cost mobile network, Jio, which quickly became the world’s third largest.
Sony’s breakup with Zee seems to have made things even harder for Disney. For one thing, Zee still owes Disney for cricket licensing (cấp phép). Bloomberg reported that the estimated value of Disney’s India unit sank to $4.5 billion from $10 billion. Sony’s failed merger also made the eventual Disney deal look sweeter for Mr. Ambani: What would have been a landscape defined by two giants is instead looking likely to be dominated (thống trị) by just one.
Being such a sprawling conglomerate, Reliance has an advantage in the battles for media domination. It does not need content to pay for itself directly. When their subscribers are brought into their retail, telecom and credit operations, the cost of making shows looks small by comparison (so sánh) to combined revenue.
source: nytimes,
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