Disney Sells Stake in Tata Play for $1 Billion
In a significant move, Walt Disney has reportedly finalized a deal to sell its stake in Tata Play, valuing the Indian conglomerate Tata Group’s satellite TV provider at around $1 billion. This development, as reported by Bloomberg News, marks Disney's strategic focus shift as it gears up for a merger with India’s Reliance Industries, aiming to create an $8.5 billion entertainment powerhouse. Disney took its stake in Tata Play from the acquisition of Star India via the purchase of 21st Century Fox's India assets in 2017. Last month, Tata Sons, the holding company of Tata Group, bolstered its stake in Tata Play to 70% by purchasing an additional 10% from Singapore’s state investment firm Temasek for approximately $100 million. This acquisition transformed Tata Play into a 70:30 joint venture between Tata and Disney. The details on the new shareholding structure post-Disney’s stake sale were not disclosed in the Bloomberg report. The sale is part of Disney's broader strategy t...