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Tata Sky IPO Soon? Walt Disney Mulls Ways To Sell Its 30 Per Cent Stake In The DTH Operator
A Tata Sky satellite dish in India. (pic via Twitter)
Entertainment giant Walt Disney is looking to exit DTH operator Tata Sky and is considering avenues like an Initial Public Offering (IPO) and a stake sale to strategic investors, Economic Times has reported.
The report claims that Walt Disney is currently exploring its options and if things go according to plan, the IPO will be launched by mid to late of next year.
The Tata Group on the other hand is reportedly locked in discussions to bring in a strategic investor or increase its stake in the DTH major.
Disney had acquired a 29.8 per cent stake in Tata Sky in 2019 as part of the assets it acquired from 21st Century Fox.
Disney which is facing increasing competition from Netflix, is now seeking to focus on its Disney+ offering and via Tata Sky's sale wants to send a strong message that is more focused on its core business.
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