I would like to share a different opinion here:
If Disney is having difficulties in running Star TV (considering the underestimation it has made about the Indian viewers), It should do either of the following :
1. Sell it off to Tata Group. Tata has a variety of businesses except television broadcasting. They already have a satellite TV service (just to confirm, Tata Play is not a broadcasting company, it's a service provider) and having a broadcaster like Star would be like another jewel to Tata's crown.
2. Hand it over to Comcast. Although I am not at all in favour of this, as Comcast has a bad reputation with it's broadband customers. However it could be a valuable deal, as it already owns Sky TV, a former brand of the News Corporation. And if NBC and Sky could exist under one umbrella, then Star can do so as well. And if Comcast merges it with Sky without killing the brand (as Disney did after acquiring Fox), then Sky could potentially enter India on it's own, a thing which NewsCorp tried to do in the past but failed due to government regulations.
3. Handover to NewsCorp. This one is least anticipated. If Star is handed over to NewsCorp, it would serve as a homecoming, as the Murdochs used to own Star TV from the beginning and they runned it very successfully alongside it's own brands Fox (USA) and Sky (UK). But I don't think it'll be possible anymore because NewsCorp has virtually exited the broadcasting business after Disney and Comcast took over two of it's most profitable broadcasting properties Star and Sky respectively.