Tata Group Acquires Full Control Of Tata Play In $1 Billion Deal With Disney: Report

Walt Disney has agreed to sell its minority stake in Tata Play to the Tata Group, valuing the satellite TV provider at roughly $1 billion, according to media reports. With the acquisition of Disney's 29.8 per cent stake, the Tata Group now has full control of Tata Play.

Last month, Tata Sons increased its stake in Tata Play to 70 per cent by acquiring a 10 per cent stake from Singapore state investment firm Temasek for approximately $100 million.

Tata Play, initially known as Tata Sky, was established in 2001 as a joint venture between Tata Group and TFCF Corp., previously known as Twenty-First Century Fox. The company offers pay television via set-top boxes and over-the-top (OTT) video streaming through its app. Disney obtained its stake in Tata Play through its acquisition of Star India, which was part of the 2017 purchase of 21st Century Fox's Indian assets.

This move coincides with Disney's focus on its merger with Reliance Industries, creating an $8.5 billion entertainment powerhouse with over 750 million viewers. In February, Disney signed a binding agreement to combine its India unit with Mukesh Ambani’s Viacom18.