Disney to sell 30% stake in Tata Play to Tata Group, valuing co at $1 bn

Walt Disney Co. has struck a deal to sell its minority stake in a subscription television broadcaster to Tata Group, people familiar with the matter said, allowing the US media giant to focus on the merger of its Indian unit with billionaire Mukesh Ambani’s media arm.

The transaction values Tata Play Ltd. at about $1 billion, the people said. Tata Group took full control of the TV platform after buying the 29.8% stake from Disney, said the people, who asked not to be identified as the information is private.