Reliance Industries in talks to purchase Tata Play stake from Disney

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If the negotiations are profitable, it will be the primary collaboration between the Tata group and billionaire Mukesh Ambani’s conglomerate.
| Photograph Credit score: Reuters

Indian oil-to-telecom conglomerate Reliance Industries is in talks to purchase a 29.8% stake in subscription-based satellite tv for pc TV and video streaming service supplier Tata Play from Walt Disney, Enterprise Customary reported, citing sources near the event.

If the negotiations are profitable, it will be the primary collaboration between the Tata group and billionaire Mukesh Ambani’s conglomerate, permitting Reliance to supply its full JioCinema content material into Tata Play’s choices for its clients, the report added.

Reliance and Disney didn’t instantly reply to Reuters request for remark, whereas a spokesperson for Tata Play declined to remark.

Earlier, it was reported that Reliance is close to merging its India media business with Disney with a 51%-54% stake. The deal values the U.S. big’s Indian operations at $3.5 billion

Bodhi Tree, a three way partnership between James Murdoch and former prime Disney government, Uday Shankar, can also be set to take a stake of round 9% within the new merged entity. Disney will maintain round 40%.

Tata Sons, the guardian firm of the Tata Group, at the moment owns a majority stake of fifty.2% in Tata Play. Other than Disney, the remaining shares are held by Singapore state funding agency Temasek, the report added.



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