Disney has held talks with Indian billionaires Gautam Adani and Sun TV Network owner Kalanithi Maran, as well as private equity firms, about selling its streaming and television business in India. According to people familiar with the matter, Disney is considering a number of options, including selling some of its Indian operations or a combination of assets from the unit. The talks are in their early stages, and a deal may not be reached, according to Bloomberg. The report made no mention of potential transaction value.

Reuters' request for comment was not immediately responded to by Disney, Sun TV, or the Gautam Adani-controlled Adani group.

Disney was exploring options to sell or find a joint venture partner for its India digital and TV business, Reuters reported in July. Thry has faced increasing pressure due to the emergence of Reliance Industries' streaming platform JioCinema, run by Asia's richest man, Mukesh Ambani. Ambani has promoted his streaming platform by providing free access to the Indian Premier League cricket tournament, the digital rights to which were previously held by Disney.

Disney's India streaming operations, its largest by users last year, posted a loss of $41.5 million on revenue of $390 million for the fiscal year ending March 2022, according to the company's most recent results.

Disney is attempting to resurrect its fortunes in India by providing free cricket on smartphones, betting that the strategy will increase advertising revenue and offset the impact of a subscriber exodus.