Reliance in talks to buy 30% Tata Play stake from Disney to strengthen television distribution & JioCinema
Reliance Industries is reportedly in talks to acquire a 29.8% stake in Tata Play, a subscription-based satellite TV and video streaming service, from Walt Disney. The potential deal would strengthen Reliance’s presence in India’s television distribution sector and expand the reach of its streaming platform, JioCinema. Tata Play, owned by Tata Sons and Temasek, faces competition from Netflix, Hotstar, JioCinema and Amazon Prime.
Tata Sons, the holding company of the Tata group, currently holds a majority 50.2% stake in Tata Play, with the rest of the shares owned by Temasek, a Singapore-based fund.
ET had reported in October last year citing sources aware of the development that Singapore-based investment firm Temasek is in advanced talks with the Tata Group to sell its 20% stake in Tata Play to the Indian conglomerate that owns the largest stake in the direct-to-home (DTH) company.