DTH
Tata group to buy out Disney’s 30 per cent stake in Tata Play
MUMBAI: The mouse house is playing its final hand in India. The Bob Iger headed entertainment major has lined up a deal under which it will be selling its near 30 per cent stake in DTH firm Tata Play to the Tata Group. The transaction values India’s most respected pay TV operator at $1 billion, according to a report by Bloomberg.
The exit by Disney will allow it to merge its India business with the Mukesh Ambani-owned Viacom18.
Disney pocketed its holding in Tata Play when it acquired the entertainment business of Twenty First Century Fox from News Corp which landed it the Star India network.
Tata Play, which has seen in an erosion in subscriber numbers, like most in the pay TV business, thanks to the expansion of the government-owned Free Dish, and cord cutting which has seen in the growth of streaming services.
It has been looking at unlocking value and attracting capital, and even started the process for an IPO in 2020, which it later dropped.
With the acquisition of Disney’s 30 per cent, the Tatas will retain total ownership of Tata Play.
DTH Operator
JC Flowers withdraws NCLT plea against Dish TV over EGM demand
Move eases pressure on DTH firm as long-running shareholder dispute cools
MUMBAI: In a breather for Dish TV India, JC Flowers Asset Reconstruction has withdrawn its petition before the National Company Law Tribunal seeking directions to convene an extraordinary general meeting.
The development was disclosed by Dish TV in a regulatory filing, confirming that the petitioner chose to withdraw the case during a hearing at the Mumbai bench of the tribunal. A detailed order from the bench is still awaited.
The petition, originally filed under Sections 98 to 100 of the Companies Act, 2013, sought to push for an extraordinary general meeting to address governance issues at the company. The case had its roots in a prolonged shareholder tussle dating back to 2021, when Yes Bank, then the largest shareholder, was at odds with the promoter group led by Subhash Chandra over board reconstitution.
JC Flowers had stepped into the picture as an assignee of Yes Bank’s stressed assets, effectively continuing the legal push initiated earlier. The withdrawal now signals a pause, if not a closure, to that chapter of dispute.
While the reasons behind the withdrawal have not been formally detailed, the move reduces immediate legal pressure on Dish TV, which has been navigating both operational and regulatory challenges in recent years.
For now, the focus shifts back to the company’s business fundamentals, even as the legal dust settles, at least temporarily, on one of its more closely watched shareholder battles.
