Walt Disney has struck a deal to sell its stake in Tata Play, valuing Indian conglomerate Tata Group's satellite TV provider at about $1 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Walt Disney Co. has struck a deal to sell its minority stake in a subscription television broadcaster to Tata Group, people familiar with the matter said, allowing the US media giant to focus on the merger of its Indian unit with billionaire Mukesh Ambani’s media arm.

Walt Disney (NYSE:DIS) has a deal to sell its minority holdings in India's Tata Play pay-TV broadcaster, a move that clears the way for merging its India business, Bloomberg reported. Disney is unloading its near-30% stake in Tata Play to Tata Group in a deal that values Tata Play around $1B,