India’s Tata Play, Airtel Digital TV near merger: ET
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INDIA’S Tata Group and Bharti Group are finalising a merger of their satellite TV businesses Tata Play and Airtel Digital TV amid mounting losses due to sustained migration to digital streaming, Economic Times reported on Tuesday.
The merger will happen through a share swap, the report said, citing sources.
Bharti Airtel will likely hold between 52-55 per cent in the merged entity, while Tata Play shareholders, including Walt Disney, will hold 45-48 per cent, the report added.
Airtel Digital TV is currently 100 per cent owned by Bharti Airtel through a subsidiary and Tata Play is a 70:30 joint venture between Tata Sons and Walt Disney.
The merger comes as part of a broader trend of consolidation in India’s satellite TV sector, driven by the rise of video streaming platforms and a shrinking pay-TV subscriber base.
The deal could also mark the second major transaction in the sector in about a decade, following the Dish TV -Videocon d2h merger in 2016. REUTERS
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