The Walt Disney Company shifts focus in India with the sale of Tata Play stake.
What’s Happening:
- Yahoo Finance reports that the Walt Disney Company has made a deal to sell its stake in Tata Play.
- The India-based, Tata Group-owned satellite TV provider is now being valued at about $1 billion.
- The Walt Disney Company acquired its stake in Tata Play from their 2017 purchase of 21st Century Fox’s India assets.
- Disney is reported to be shifting gears to focus on its merger with India’s top media conglomerate Reliance Industries.
- In what would be an $8.5 billion entertainment super power, Disney and Reliance Industries would become the most powerful media company in the most populous nation in the World.
- Disney has yet to comment on the sale.
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