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By Akansha Srivastava
In its financial report for the second quarter of 2024, Walt Disney disclosed over $2 billion in charges resulting from goodwill impairments associated with Star India and linear entertainment networks in India
The company said in its report, "Recorded charges of $2,052 million due to goodwill impairments related to Star India and entertainment linear networks."
It further wrote that the impairment at Star India was a result of the company entering into a binding agreement with Reliance to merge Star India and Viacom18.
On February 28, 2024, The Walt Disney Company sold its India business to Mukesh Ambani's Reliance Industries at a $3.5 billion valuation, which it bought from Rupert Murdoch for $14 billion seven years ago.
Read Full Story https://bestmediainfo.com/mediainfo/television/reliance-deal-damaged-disney-india-business-by-2-billion-4547690
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