Disney already owned a large stake in UTV, and already is the leading TV producer in India. This deal, the terms of which weren’t disclosed, will make it the biggest film studio in the country as well.
Burbank, Calif. and Mumbai, India (January 31/February 1, 2012) – The Walt Disney Company (NYSE: DIS) announced today it will acquire, through a subsidiary, a controlling interest in UTV, one of India’s premier media and entertainment companies. The acquisition will be completed through a successful delisting offer and will enable Disney to integrate UTV’s current operations. In addition, UTV CEO Ronnie Screwvala has been named Managing Director, The Walt Disney Company India reporting to Andy Bird, Chairman, Walt Disney International. (more…)