The Walt Disney Company (Disney) intends to sell its entire stake in Tata Play, India’s largest satellite television operator, during the latter’s initial public offering (IPO).
The American entertainment company intends to concentrate its efforts in India on its broadcast and streaming service businesses, exiting distribution. “Disney is not interested in the distribution business anywhere in the world. The Walt Disney Company owns 29.8% of Tata Play through TS Investments, a joint venture with the Tata Group. When Disney acquired 21st Century Fox’s entertainment business in 2019, it received a stake in Tata Play. Tata Play has filed a confidential offer document for its initial public offering (IPO) and expects to raise INR 2,000-2,500 Cr from the share sale.
