Disney, Reliance Offer Concessions for $8.5 Billion India Media Merger without Selling Cricket Rights

Disney and Reliance are offering concessions to obtain India antitrust approval for their $8.5 billion media merger. They are not willing to sell cricket broadcast rights, the key asset in the deal. The companies have promised to regulate advertising rate hikes. This merger aims to create India's biggest entertainment player.

Disney and Reliance have proposed concessions to gain India antitrust approval for their $8.5 billion media merger, while firmly stating they will not sell cricket broadcast rights, a pivotal asset, according to sources.

In response to the Competition Commission of India's (CCI) apprehensions about their heightened control over cricket rights, the companies have agreed to moderate advertising rate hikes, according to insiders.

With 120 TV channels and two streaming services, the merger aims to establish India's largest entertainment player, rivaling giants like Sony, Netflix, and Amazon. Cricket remains the central attraction, and the companies have privately submitted their refusal to divest any cricket rights to the CCI. The submission details are being disclosed for the first time, and neither company nor the CCI responded to Reuters' queries.

(With inputs from agencies.)