Tata Sons ups its Tata Play stake to 70%, buying Temasek's 10% for $100M: Report.

Synopsis : Tata boosts Tata Play stake to 70%, buys Temasek's 10% share for $100M. Disney joint venture. IPO postponed.

Tata Play, the direct-to-home firm, has duly notified the Ministry of Information and Broadcasting regarding the alteration in shareholding, adhering to regulations. The Economic Times reports that valued at $1 billion, Tata Play constitutes the conglomerate's sole consumer-facing entity in the media and entertainment domain. As India's largest DTH firm, it boasts 21 million subscribers.

Under the new structure, Tata Play will transition into a 70:30 joint venture between Tata and Walt Disney. However, discussions suggest Tata's interest in acquiring Disney's stake as well, as Disney aims to divest from non-core businesses like DTH platforms. Disney's decision follows its strategic move to merge Star India with Reliance's Viacom18, forming an $8.5 billion media powerhouse.

Although SEBI approved Tata Play's IPO plans in May 2023, the offering was postponed due to challenging market conditions. Originally established as Tata Sky in 2001, Tata Play enjoys a widespread presence across India, with Temasek investing in the platform back in 2007.