M&A

M&A

Tata Group acquires Wall Disney’s 30% stake in DTH platform Tata Play

Reuters  

US-based media giant Walt Disney has struck a deal to sell its stake in Tata Play to the Tata Group, valuing Tata Group's satellite TV provider at about USD 1 Billion.Disney had originally acquired a stake in Tata Play through its acquisition of Star India (via the purchase of 21st Century Fox's (TCFF) India assets in 2017).Tata Play was established in 2001 as a joint venture between Tata Group and TFCF Corp. It offers pay television services through set-top boxes (DTH) and over-the-top (OTT) video streaming via its app. The company boasts a nationwide presence with 23 million connections.Last month, Tata Sons, the holding company of India's Tata Group, increased its stake in Tata Play to 70% by buying a 10% stake from Singapore state investment firm Temasek for about USD 100 million. With Temasek's exit, Tata Play operated as a 70:30 joint venture between Tata and Disney.