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Tata group has begun discussions to sell an additional stake in Tata Sky, its direct-to-home (DTH) television arm, to joint venture partner Twenty-First Century Fox Inc., said two people aware of the development.
The media and entertainment company controlled by billionaire Rupert Murdoch owns a close to 30% stake in Tata Sky through its investment arm Network Digital Distribution Services FZ Llc (NDDS) and is keen to increase it, the people cited above said on condition of anonymity.
“Fox is looking to consolidate its position and control in several markets and has made repeated attempts to take over BSkyB, a television and broadband services provider in the UK,” one of the two said.
India is already the largest DTH market in the world by number of subscribers, this person said. India has 94.61 million DTH subscribers and Tata Sky had a 21.52% market share as of December 2015, according to Telecom Regulatory Authority of India data.
Tata group in talks with 21st Century Fox to sell Tata Sky stake - Livemint
The media and entertainment company controlled by billionaire Rupert Murdoch owns a close to 30% stake in Tata Sky through its investment arm Network Digital Distribution Services FZ Llc (NDDS) and is keen to increase it, the people cited above said on condition of anonymity.
“Fox is looking to consolidate its position and control in several markets and has made repeated attempts to take over BSkyB, a television and broadband services provider in the UK,” one of the two said.
India is already the largest DTH market in the world by number of subscribers, this person said. India has 94.61 million DTH subscribers and Tata Sky had a 21.52% market share as of December 2015, according to Telecom Regulatory Authority of India data.
Tata group in talks with 21st Century Fox to sell Tata Sky stake - Livemint
