Walt Disney's, $DIS, stock price could surge – possibly rising by as much as 129% – if the media and entertainment company harnesses the power of artificial intelligence more effectively, per Blackwells Capital.
Blackwells, vying for three board seats at Disney, projected in a presentation that Disney's stock price could potentially rise to $246.96 from its current $107.74.
Disney is teaming up with Asia's wealthiest individual to address challenges impacting its streaming business in India.
The conglomerate announced it would merge its Star India service with Viacom18, supported by Mukesh Ambani's Reliance Industries, in an $8.5 billion deal.
Reliance will spearhead the new entity, set to become one of India's largest media players.
Reliance has committed to injecting $1.4 billion to facilitate the firm's growth.
Ambani, who amassed his wealth in the chemical and oil sectors and is now valued at over $100 billion according to Forbes, hailed it as a "milestone agreement ushering in a new era in the Indian entertainment sector."
The companies anticipate the deal, subject to regulatory approval, to be finalized by the end of this year or early next year.
The merged entity will operate over 120 channels, catering to approximately 750 million viewers nationwide.
Viacom18, established in 2007 as a joint venture between Reliance and Paramount, presently manages about 40 channels, including MTV, Nickelodeon, Colors in Hindi, and the JioCinema streaming service.
It has been competing with Disney's Star business in India, which D
