Disney to sell stake in Tata Play to Tata Group, Bloomberg says

Disney has struck a deal to sell its minority stake in subscription television broadcaster Tata Play Ltd. to Tata Group, people familiar with the matter told Bloomberg’s Baiju Kalesh and P R Sanjai. The deal to sell Disney’s 29.8% stake, which values Tata Play at about $1B, will allow the U.S. media giant to focus on the merger of its Indian unit with billionaire Mukesh Ambani’s media arm, the report said.