Walt Disney given green-light to takeover UTV

13

Walt Disney has been given the green light to takeover UTV Software Communications.

In July this year, UTV Software had announced that Walt Disney was interested to buyout stakes held by public shareholders and other promoters of the company.

Currently Disney holds 50.44 per cent in UTV with the remainder acquisition set to cost the American giant Rs. 20.13 billion.

The deal has been approved by the Cabinet Committee on Economic Affairs after it was given the nod by the Foreign Investment Promotion Board last month.

UTV Software business consists of broadcasting, games, motion pictures, digital content and television programming.

Incidentally, UTV is foraying into the UK market with the launch of its new Bollywood film channel UTV Movies India on Monday.

Latest From Related Articles

Vivek Oberoi to star in web-series based on Swami Vivekananda’s life

Eros International joins hands with Kyta Productions for ‘Pataakha’ & ‘Kirik Party’

Akshay Kumars New Band

Leave Comment

Please enter your name here
Please enter your comment!