Disney, Reliance offer $8.5 billion media merger in India without selling cricket rights

Disney and Reliance have offered concessions to win approval from India’s antitrust regulator for their $8.5 billion media merger, while also making it clear that they will not sell the rights to broadcast cricket matches, a key asset for them, according to sources.

In response to concerns from the Competition Commission of India (CCI) about increased scrutiny over cricket broadcasting rights, the companies have agreed to ease their advertising rate hikes, insiders said.

With 120 TV channels and two streaming services, the merger aims to create India’s largest entertainment player, rivaling giants like Sony, Netflix and Amazon. Cricket remains a major attraction, and the companies have privately submitted their refusal to divest cricket rights to CCI. Details of the filing are being disclosed for the first time, and neither the company nor CCI responded to Reuters queries.

(Based on information from the agency.)