Tata Group may buy Disney’s stake in Tata Play: Report

0 14

Tata Group may buy out Walt Disney Co.’s stake in Tata Play Ltd. so that it can take full control of the subscription TV broadcaster, Bloomberg reported on Thursday quoting sources. 

Both the companies are in preliminary talks about buying out Disney’s significant minority stake, which would value Tata Play at about $1 billion or more, the report said. 

The sources added that Tata may decide not to pursue a deal going further. 

Currently, Tata Sons, the holding company of the Tata group, holds a majority stake (50.2%) in Tata Play. The remaining shares are owned by Disney and Singapore-based investment firm Temasek.

Last month, Reliance Industries Limited, Viacom 18 Media Private Limited (Viacom 18) and The Walt Disney Company announced the signing of binding definitive agreements for a joint venture that will combine the businesses of Viacom18 and Star India. 

It was also reported that RIL is in talks to acquire a 29.8% stake in Tata Play, the satellite TV and streaming service currently owned by Walt Disney. 

Earlier it was reported that Temasek was in advanced talks with the Tata Group to sell its 20% stake in Tata Play to the Indian conglomerate that owns the largest stake in the direct-to-home (DTH) company.

Source link

Leave A Reply

Your email address will not be published.