Walt Disney has finalised a deal to sell its minority stake in the subscription television broadcaster Tata Play to the Tata Group, according to a report by Bloomberg.

The transaction values the satellite TV provider, Tata Play, at about $1 billion. The Tata Group took full control of the platform after buying the 29.8 per cent stake from Disney.

Disney signed a binding agreement in late February to combine its India unit with billionaire Mukesh Ambani’s media arm, ‘Viacom 18 Media Pvt’, creating an $8.5 billion entertainment juggernaut that will have over 750 million viewers and dominate the media sector in India.

About Tata Play

Tata Play was incorporated in 2001 as a joint venture between Tata Group and TFCF Corp., formerly known as Twenty-First Century Fox. The company provides pay television via set-top boxes and over-the-top (OTT) video streaming through its app and has a pan-India footprint of 23 million connections, according to Tata Sons - the holding company of the Tata Group.