Tata group in a new development is likely to buy Walt Disney’s stake in Tata Play which will enable the company to have a full control of the subscription television broadcaster, a report from Bloomberg stated on Thursday. The news of the development comes in days after the Reliance-Disney deal to merge its businesses, which is likely to capture the 50% of country’s streaming market.
Both Tata and Walt Disney are in the initial stage of talks about an acquisition of Disney’s significant minority stake, which would value Tata Play at about $1 billion or more, sources aware of the matter told Bloomberg. Tata may decide not to pursue a deal, they told Bloomberg.
The loss making firm Tata Play, is owned 50.2% by the Tata Group, Singapore’s Temasek holds around 20% stake, while the remaining stake (29.8%) is held by Walt Disney. In FY23, Tata Play reported a loss of Rs 1.05 billion or $13 billion. Its revenues fell 5% during the same period. The company had also filed for an Initial Public Offering (IPO) a year ago.
