11:38 AM EDT, 05/22/2024 (MT Newswires) -- (Updates with details throughout.)

Walt Disney ( DIS ) has agreed to sell its roughly 30% minority interest in Tata Play, a subscription television broadcaster, to Tata Group, which takes full control of the platform following the deal, Bloomberg News reported Wednesday, citing people familiar with the matter.

The deal values Tata Play at roughly $1 billion, the unnamed sources told the news outlet.

Tata Group boosted its stake in Tata Play to north of 70% after buying out Temasek's interest earlier in 2024, Bloomberg reported, citing the sources.

Representatives for Disney ( DIS ), Tata Group and Temasek declined to comment, according to Bloomberg.

Disney ( DIS ) and Tata Group didn't immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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