Mukesh Ambani-owned Reliance Industries (RIL) is in discussions to acquire a 29.8 per cent stake in Tata Play from the Walt Disney Company, according to sources close to the development.
This move is seen as part of RIL s broader strategy to deepen its footprint in India s television distribution sector.
Tata Sons, the holding company of the Tata group, currently holds a 50.2 per cent stake in the satellite television broadcaster.
WALT Disney Co., the US entertainment conglomerate, is expediting its business exploration in the Chinese market, fully tapping the market s huge potential in particular in the wake of the pandemic when the world s second-largest economy is seeing its consumption and tourism vitality surge back to previous levels.