The Tata Group and Bharti Group are reportedly in advanced discussions to merge their satellite television operations, forming an entity valued at approximately $1.6 billion (around Rs. 13,918 crore). This strategic move seeks to address the ongoing trend of subscriber migration toward digital streaming platforms, according to a report by Economic Times on Tuesday.
The newly formed company is anticipated to be controlled by Bharti Airtel, which is expected to hold a majority stake of between 52 percent and 55 percent. The remaining shares will be owned by Tata Play shareholders, which include Walt Disney, the report indicates, citing sources familiar with the matter.
At the time of publication, Bharti Airtel, Tata Play, and Disney had not responded to inquiries from Reuters for comments regarding the potential merger.
Tata Play operates as a 70:30 joint venture between Tata Sons and Disney. As of September of last year, the combined subscriber base of both Tata Play and Airtel stood at 35 million, accounting for over half of the total 60 million subscribers in the industry, according to a government report.
Each of the two businesses is being valued at between 60 billion rupees ($690.76 million) and 70 billion rupees ($805.89 million), with a projected revenue exceeding 70 billion rupees for the fiscal year 2024, as reported by ET.
This impending merger marks the second significant consolidation in the satellite TV sector since Dish TV’s merger with Videocon d2h in 2016. It also follows last year’s $8.5 billion (approximately Rs. 73,946 crore) merger involving Reliance Industries’ streaming media assets with those of Disney’s Indian operations.
Shares of Bharti Airtel experienced a 1.7 percent increase on the day of the report.
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