Disney plans $8.5bn merger for ailing India unit

Disney has announced plans for an $8.5 billion merger with its ailing India unit. The move comes as the entertainment giant looks to expand its presence in the lucrative Indian market.

The merger is expected to provide Disney with much-needed resources to revitalize its struggling India unit, which has been facing fierce competition from local rivals in recent years.

Disney’s CEO, Bob Chapek, expressed optimism about the merger, stating that it would “create a stronger, more competitive business that is better positioned to serve consumers in India and around the world.”

The merger is subject to regulatory approvals and is expected to be completed by the end of the year.