Tata Group to Purchase 30% Stake
Walt Disney Co has come with a new deal by selling it’s minority stake in Tata Play to Tata Group. In between this the sale will permit the US media giant to give a deep focus on the merger of Indian unit along with media arm of Mukesh Ambani. In between this, the new report has confirmed that the Tata Play Ltd. Deal has been valued at about $1 billion.
Tata Group to Purchase 30% Stake
The new deal indicates that Tata Group is taking over of the Platform after purchasing the 29.8 % stake from Disney. The process of this deal was started at the late of February with a binding agreement it’s India unit with Viacom 18 Media Pvt to build up an $8.5 billion entertainment media industry.
In March a reports published regarding the conglomerate which was accepting the prospects of buying the stake from Disney and there is a preliminary talks regarding the holding that were underway.
In this April the Singaporean state possessed the investment firm Temasek sold 10% stake in Tata Play to Tata Sons for Rs. 835 Crore and also raising the shareholding of Tata Son to 70%.
After the exit of Temasek, Tata Son held a 70% stake in the DTH firm with Walt Disney. With Disney’s divestment, Tata now has complete control over subscription TV services.
Tata Play
Tata Play was launched in 2001, which was previously knows as Tata Sky was mainly a joint venture in between TFCF and Tata Play. The company rigorously moved to a pay television through set-top boxes along with over-the-top video streaming by using the application. In 2022, Tata Play starts to offer domestic public offering. We would like to inform you that Tata Group boosted the stake in Tata Play more than 70% just after getting the stake of Temasek Holding Pte as per report Temasek contributed in 2007.
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