Reported 5 months ago
Disney has reached a deal to sell its stake in Tata Play, the satellite TV provider of India's Tata Group, for approximately $1 billion, as reported by Bloomberg News. This move comes as Disney aims to concentrate on its merger with Reliance Industries in India, forming an $8.5 billion entertainment powerhouse. Last month, Tata Sons increased its stake in Tata Play to 70% by acquiring a 10% stake from Temasek, making Tata Play a joint venture with Disney. Details on the change in joint venture shareholding post the stake sale were not provided in the report.
Source: YAHOO