Reported 5 months ago
Walt Disney Co. has reached an agreement to sell its minority stake in a subscription television broadcaster to Tata Group, allowing Disney to focus on merging its Indian unit with Mukesh Ambani’s media arm. The deal values Tata Play Ltd. at around $1 billion, with Tata Group now holding over 70% stake after acquiring Temasek Holding Pte's shares. Disney's stake sale comes amid significant changes in India's media industry, as Disney previously signed a deal to merge its India unit with Viacom 18 Media Pvt.
Source: YAHOO