According to a report, Disney is giving Tata Group a minority ownership in Tata Play so that it may concentrate on combining its Indian division with Viacom 18 Media Pvt, Mukesh Ambani's media venture. The agreement puts Tata Play's value at about $1 billion. Disney's 29.8% ownership will be acquired by Tata Group, giving them complete command over the TV network.
As per the deal, Tata Group takes full control of the TV platform after buying the 29.8% stake from Disney. The deal comes as Disney signed a binding agreement in late February to combine its India unit with Viacom 18 Media Pvt creating an $8.5 billion entertainment giant.
Tata Play was incorporated in 2001- a joint venture between Tata Group and TFCF Corp. The company provides pay television via set-top boxes and over-the-top video streaming through its app, as per Tata Sons’s website. Tata Play in 2022 filed confidentially for a domestic initial public offering. The listing is yet to happen.
Tata Group raised its stake in Tata Play to over 70% after buying out Temasek Holding Pte’s stake earlier this year. Temasek invested in 2007, it was reported.
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