Tata To Become Sole Owners Of Tata Play As Disney Agrees To Sell 30% Stake

Walt Disney Co. has parted ways with Tata Play, selling its minority stake to the Tata Group. This strategic decision allows the American media conglomerate to concentrate on its impending merger with Mukesh Ambani’s media division in India.

What Happened: Disney has divested its 29.8% stake in Tata Play, a subscription television broadcaster, to Tata Group, Bloomberg reported citing insiders. The deal values Tata Play at around $1 billion, granting Tata Group complete ownership of the platform.

This transaction takes place amidst a major reshuffling of the Indian media industry. In late February, Disney entered into a binding agreement to merge its Indian subsidiary with Viacom 18 Media Pvt, forming an $8.5 billion entertainment giant anticipated to rule the Indian media sector.

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Tata Play, initially a joint venture between Tata Group and TFCF Corp (formerly Twenty-First Century Fox), offers pay television through set-top boxes and OTT video streaming via its app. The company, boasting a pan-India presence with 23 million connections, confidentially filed for a domestic IPO in 2022, which is yet to take place.

Earlier this year, Tata Group increased its stake in Tata Play to just over 70% by acquiring Temasek Holding Pte’s stake.

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Posted In: M&ANewsMediaTata GroupWalt Disney Co.