According to a report in The Mint, entertainment giant Walt Disney Co. (NYSE:DIS) could be in potential discussions with Sony Pictures Entertainment (SPE), the entertainment unit of Sony Group Corp. (SONY), about a deal to sell off its Indian entertainment business.
Disney declined to comment on the Mint report. Last week, Reuters reported that Blackstone (BX) was eyeing a stake in Disney’s India empire. It has also been reported that the company has also held talks with Indian billionaires Gautam Adani and Kalanithi Maran, who owns Sun TV Network and Reliance’s Jio.
The media and entertainment company is facing subscriber losses when it comes to its streaming business in India, as it has lost streaming rights for some key cricket tournaments including the Indian Premier League.
What is the Target Price for DIS Stock?
Analysts are cautiously optimistic about DIS stock with a Moderate Buy consensus rating based on 17 Buys, five Holds, and two Sells. The average DIS price target is $106.50, implying an upside potential of 26.3% at current levels.
