Tata Motors Records Highest-Ever EV Sales In FY2021-22

Tata Sons Increases Stake in Tata Play, Disney Considers Exit

Tata Sons, the holding company of India’s Tata Group, has reportedly acquired an additional 10% stake in satellite TV provider Tata Play from Singapore state investment firm Temasek for around $100 million. This transaction increases Tata Sons’ stake in Tata Play to 70%.

Tata Motors Records Highest-Ever EV Sales In FY2021-22

According to the Economic Times, Tata Play has informed the Ministry of Information and Broadcasting about the change in shareholding, as required by regulations governing direct-to-home (DTH) companies.

Following Temasek’s exit, Tata Play will now operate as a 70:30 joint venture between Tata and Walt Disney. Disney acquired its stake in Tata Play through the purchase of Star India from 21st Century Fox.

Although Tata Play’s valuation has decreased from its pre-pandemic target of $3 billion to $1 billion, the company remains a key player for the Tata Group in the media and entertainment sector, particularly in consumer-facing businesses.

Reportedly, discussions are underway between Tata Sons and Disney regarding Disney’s stake in Tata Play. Disney is seeking to exit the DTH business as it is not a core focus area.

Plans for both Temasek and Disney to exit Tata Play through an initial public offering (IPO) have been postponed due to market conditions and challenges in the DTH sector.

Tata Play had received approval from India’s market regulator for its proposed public issue in May 2023.

In a separate development, Reliance Industries and Disney announced in February a merger of their India TV and streaming media assets, creating an $8.5 billion entertainment entity.

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About Pooja Chauhan

Pooja Chauhan: Your Source for Entertainment and Box Office News Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

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