Disney to Sell 30% Stake in Tata Play to Tata Group, Valuing Company at $1 Billion
Walt Disney Co. has struck a deal to sell its 30% minority stake in Tata Play Ltd. to Tata Group, valuing the company at approximately $1 billion. This move allows Disney to focus on merging its Indian unit with Mukesh Ambani’s Viacom 18 Media Pvt, forming an $8.5 billion entertainment giant.
Tata Group will gain full control of Tata Play, a subscription television broadcaster, by acquiring Disney’s 29.8% stake. Earlier this year, Tata Group increased its stake to slightly over 70% by buying out Temasek Holding Pte’s shares.
Incorporated in 2001 as a joint venture between Tata Group and TFCF Corp. (formerly Twenty-First Century Fox), Tata Play offers pay television services via set-top boxes and over-the-top streaming through its app. It has a nationwide footprint of 23 million connections.
This deal is part of a larger transformation in India’s media landscape. Disney’s binding agreement to combine its Indian unit with Viacom 18 Media Pvt will create a media powerhouse with 750 million viewers.
Tata Play filed confidentially for a domestic initial public offering in 2022, but the listing has yet to occur.
Representatives from Tata Group, Disney, and Temasek declined to comment on the transaction.
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