--Walt Disney and billionaire Mukesh Ambani's Reliance Industries have appointed law firms and started antitrust due diligence for the planned merger of their Indian TV and streaming businesses, Reuters reports, citing unnamed sources.

--Disney executives met with Reliance leadership in London in late December and signed a non-binding term sheet for the merger, one source familiar with the deal tells Reuters.

--Representatives for Disney declined to comment to Reuters, while Reliance told Reuters it had "no comments to offer" and called the story "speculative," without further elaboration.

--The Wall Street Journal reported in July that Disney was exploring strategic options for its Star India business, including a joint venture or a sale.

Full article: https://www.reuters.com/markets/deals/reliance-disney-start-antitrust-diligence-india-media-merger-sources-2024-01-04/

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

January 04, 2024 09:39 ET (14:39 GMT)

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