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The transaction values the satellite TV provider, Tata Play, at about $1 billion, Bloomberg News reported, citing unidentified people familiar with the matter. Tata Sons, the holding company of Tata Group, had already bought a 10 percent stake held by state-owned Singaporean investment vehicle Temasek Holdings for around $100 million, local media reported.

The objective is to co-develop new entertainment formats for the international market. The debut of this partnership will be the project "Lovers or Liars?" set to showcase at MIPFORMATS 2024.

Through the first-time deal, the local versions of Two Brothers Pictures’ thrillers "Liar" and "Cheat," as well as mystery thriller "The Cry" from the award-winning team at Synchronicity are currently in development, and will make their way to Indonesia.

In addition to presenting audiences with a familiar, cable-like experience, FAST channels are built to be adjusted quickly and accommodate shifting audience demand, Nielsen said in its latest report.

The new film is directed by multiple award-winning director Călin Peter Netzer.