Disney’s loss from Reliance joint venture narrows to $44 million in June quarter as JioStar turns profitable
CE DESK 
Walt Disney’s loss from its Indian joint venture with Reliance Industries has narrowed to $44 million in the quarter ended June 27, 2026, down from $50 million a year earlier, as the combined media business JioStar delivers a sharp turnaround in profitability. For the nine months ended June 27, Disney’s share of losses from the JV fell to $136 million from $186 million in the same period last year, contributing to higher equity income from investees in Disney’s consolidated results.indiantelevision+1
The JV, formed in November 2024 by merging Disney’s Star-branded entertainment and sports TV channels and Disney+ Hotstar in India with Reliance-controlled Viacom18, has seen a dramatic improvement in its financials in FY2026. JioStar reported revenue from operations of ₹30,819 crore, up 46.5% from ₹21,044 crore in FY2025, while profit after tax jumped to ₹3,145 crore from just ₹18 crore a year earlier. Reliance owns 56% of JioStar, Bodhi Tree Systems holds 7%, and Disney retains 37%.indiantelevision+1
A major driver of the improved performance has been a reduction in provisions for onerous sports rights contracts. JioStar cut its sports contract provision to ₹17,742 crore at the end of FY2026 from ₹25,760 crore the previous year, using about ₹8,018 crore from the provision during the year and adding no new provision. This recalibration has helped the venture convert scale into sustainable earnings even as it continues to invest in content, sports and digital distribution.indiantelevision+1
Disney records its share of the venture’s performance under “equity in the income of investees”, and the narrowing loss from India has been a positive contributor to overall group results. No direct company quote has been issued specifically on the $44 million figure, but the trend underscores the early financial benefits of the Reliance–Disney combination as the Indian media market consolidates around large, integrated platforms.
