Disney to sell 30% Tata Play stake to Tata Group; transaction valued at $1 billion.

Economy Business

Walt Disney has finalised a deal to sell its minority stake in the subscription television broadcaster Tata Play to the Tata Group, according to a report by Bloomberg. The transaction values the satellite TV provider, Tata Play, at about $1 billion. The Tata Group took full control of the platform after buying the 29.8 per cent stake from Disney. Disney signed a binding agreement in late February to combine its India unit with billionaire Mukesh Ambani’s media arm, ‘Viacom 18 Media Pvt’, creating an $8.5 billion entertainment juggernaut that will have over 750 million viewers and dominate the media sector in India.


      The transaction values Tata Play at about $1 billion, according to Bloomberg. Tata Group took full control of the TV platform after buying the 29.8 per cent stake from Disney

     

     

 

     


          ____________________________