Disney's 30% Stake In Tata Play Expected To Be Acquired By Tata Group
Disney's sale of its Tata Play share is expected to free up the US media behemoth to concentrate on merging its Indian division with Viacom18
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Walt Disney Co's minority stake in Tata Play is expected to be acquired by Tata Group, granting it complete control over the subscription television broadcaster. According to Bloomberg, the deal values Tata Play at roughly $1 billion. Tata Group has acquired the 29.8 per cent interest in the TV platform from Disney through this purchase, giving them complete control over it.
After purchasing Temasek Holding Pte's share of Tata Play earlier this year, Tata Group raised its ownership of the company by 10 per cent, to just over 70 per cent. Temasek made its first Tata Sky investment in 2007.
Disney's sale of its Tata Play share is expected to free up the US media behemoth to concentrate on merging its Indian division with Viacom18. In February 2024, Disney and Viacom 18 inked a legally binding deal to merge their India operation, forming a $8.5 billion entertainment conglomerate.
As a joint venture between Tata Group and TFCF Corp., formerly known as Twenty-First Century Fox, Tata Play was established in 2001. With 23 million connections throughout India, the firm offers over-the-top video streaming via its app and paid television via set-top boxes.
Tata Play submitted a confidential application for a domestic IPO in 2022, however, the listing has not yet taken place.
