Mukesh Ambani-owned Reliance Industries is reportedly in talks for a 29.8 per cent stake in Tata Play from the Walt Disney Firm.
Reliance, in accordance with a Enterprise Commonplace report, is eyeing a much bigger footprint India’s tv distribution sector with the plan.
Tata Sons has a 50.2 per cent stake within the satellite tv for pc tv broadcaster. Other than Disney, the remaining shares are owned by Temasek, a Singapore-based fund.
Enterprise As we speak couldn’t independently confirm the report.
If the deal goes by means of it might be the primary time Tata group and Reliance have partnered in a three way partnership, the report acknowledged, extending JioCinema’s attain throughout the Tata Play platform.
Temasek has been meaning to promote its 20 per cent stake within the firm, valued at near $1 billion.
For the monetary yr ended March 31, 2023, Tata Play reported a lack of Rs 105 crore on income of Rs 4,499 crore.
Disney and Reliance are reportedly within the final leg of negotiations to finalise their mega stock-and-cash merger to create India’s largest media and leisure enterprise.
Viacom18 may emerge as the one largest shareholder, with 42-45% within the mixed entity. RIL is anticipated to speculate as much as $1.5 billion money within the new entity, proudly owning 60%, with Walt Disney proudly owning the remaining 40%.
