Tata Group is poised to Acquire Disney $1 Billion Stake in Tata Play

According to Bloomberg News, Walt Disney has agreed to sell its investment in Tata Play, valuing the satellite TV company owned by Indian giant Tata Group at over $1 billion.

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The stake sale news comes as the US-based media behemoth prepares to merge with India’s largest conglomerate, Reliance Industries, in order to build a $8.5 billion entertainment juggernaut far ahead of its Indian rivals.

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Tata Sons, the main company of India’s Tata Group, boosted its share in Tata Play to 70% last month by purchasing a 10% stake from Singapore’s state investment firm Temasek for approximately $100 million, according to local media.

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Following Temasek’s exit, Tata Play is a 70:30 joint venture between Tata and Disney. The Bloomberg story does not note the change in joint venture shareholding ratios following the stake sale news. Disney and Tata Group did not immediately respond to Reuters’ requests for comment. Disney acquired its investment in Tata Play through the 2017 acquisition of Star India’s India assets from 21st Century Fox.

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Tata Play was founded in 2001 as a joint venture between the Tata Group and TFCF Corporation. According to the Tata Sons website, the company offers paid television through set-top boxes as well as over-the-top video streaming via its app. In 2022, Tata Play filed a confidential application for a domestic IPO. The listing has yet to happen.