India's Tata Play, Airtel Digital TV near merger, ET reports

Reuters

Feb 25

India's Tata Play, Airtel Digital TV near merger, ET reports

Feb 25 (Reuters) - India's Tata Group and Bharti Group are finalizing a merger of their satellite TV businesses Tata Play TATK.BO 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 BRTI.NS will likely hold between 52-55% in the merged entity, while Tata Play shareholders, including Walt Disney Co DIS.N, will hold 45-48%, the report added.

Airtel Digital TV is currently 100% owned by Bharti Airtel through a subsidiary and Tata Play is a 70:30 joint venture between Tata Sons and Walt Disney Co.

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 DSTV.NS-Videocon d2h merger in 2016.

(Reporting by Aleef Jahan in Bengaluru; Editing by Sumana Nandy)

((aleefjahan.cs@thomsonreuters.com))

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