Walt Disney is reportedly exploring various strategic options for its Star India business, with potential plans for a joint venture or a sale, according to a media report. The American multinational mass media and entertainment conglomerate has reportedly engaged in discussions with at least one bank to identify opportunities for the growth of its India business while also sharing some of the associated costs
Disney's India business consists of the popular Disney+ Hotstar streaming service and Star India, which came under Disney's ownership following its acquisition of the entertainment assets of 21st Century Fox in 2019. Time travel with this Visual Story to see Disney's journey in India from Buena Vista TV to Disney Star
Disney entered India in August 1993 when The Walt Disney Company and K K Modi Group's Modi Enterprises formed a joint venture to create Buena Vista Television and launch three channels. In 2001, the two partners had serious disagreements over Disney's plan to launch a 100% subsidiary
In 2003, the Disney-Modi JV came to an end, and Disney Walt Disney Company (India) Pvt Ltd started its operations as a wholly-owned subsidiary. A year later, Disney launched two kids' channels Toon Disney and Disney Channel. The Star Group entered a deal to distribute the channels in India
In 2006, Disney India acquired a controlling stake in Hungama TV from UTV Software Communications Limited while also taking a 14.9% share in UTV. In 2008, the company took an additional 17.5% share in UTV, upping Disney's holding in UTV to 32.1%, giving the American company a 15% stake in UTV Global Broadcasting
In 2012, Disney acquired the remaining shares of UTV for $454 million and formed a new holding company Walt Disney Company India, to manage UTV and other businesses. However, in 2016, it indicated that it was shutting down UTV Motion Pictures, its Hindi film production unit, saying that it would focus only on Hollywood movies
In 2017, Disney India announced a restructuring of its Asia business and combined India, Singapore, Malaysia, Thailand, Indonesia, Philippines, and Vietnam under its South Asia division. In the same year, it launched Disney International HD to provide Disney original content. In 2018, it launched another HD channel UTV HD, for Hindi as well as English movies
Disney India's biggest deal came in December 2017 when it announced the acquisition of Ruper Murdoch's 21st Century Fox for $71 billion. Among other key assets, the acquisition included the 20th Century Fox film and television studios, US cable channels such as FX, Fox Networks Group, a 73% stake in National Geographic Partners, Indian television broadcaster Star India, and a 30% stake in Hulu
The huge 2018 deal also brought Hotstar to Disney. Moreover, it also got a 30% stake in Tata Play (formerly called Tata Sky). The deal was completed in 2019. Last year on April 14, Star India was rebranded as Disney Star. Later, it announced its plans to shut down the UTV brand with UTV Movies, UTV HD, and UTV Action being replaced by Star Gold Romance, the HD feed of Star Gold 2 and Star Gold Thrills, respectively