October 10, 2024
Marketing News

Hotstar owner Novi Digital Entertainment to merge with Star India

Nova Digital Entertainment, the owner of the Disney+Hotstar streaming platform, has begun proceedings to merge with its parent firm Star India, according to a report in the Economic Times.

As per the report, both parties have officially submitted their merger scheme proposal to the Mumbai division of the National Company Law Tribunal (NCLT). The division bench of judicial member Reeta Kohli, along with technical member Madhu Sinha, is hearing the matter.

This development is in line with the companies’ strategic endeavor to restructure and reorganize their operations in streaming, broadcasting and distribution. In their application, both Novi and Star have stated that the move would help them scale their businesses, boost synergies, operational efficiencies and growth, and optimize resources and lower costs.

This occurs at the same time as Walt Disney’s pursuit of investors for Star India, where they have been in talks with entities like Reliance Industries, Blackstone and SUN TV for a partial or complete sale of Star India’s assets. These include their TV and streaming, which have an immense influence in the streaming sector and linear television.

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