Confirmed: Disney buys 15% stake in UTV

Last week BizAsia.co.uk got wind of the fact that something was brewing between Disney and UTV. Read this.

Like always, we weren’t wrong. It’s official as of this morning. Disney has bought a 15% stake in UTV, and Hungama Television in entirety. It seems the stake in UTV Software Communications is worth $14 million.

Effectively, UTV has successfully exited the broadcasting business, after making Hungama India’s No.1 children’s channel. Looks like UTV will be concentrating aggressively on film and television content creation & marketing, and animation as its core businesses.

UTV’s International Distribution division has successfully distributed among the biggest overseas film hits in recent times.