UTV strikes two major deals with Walt Disney

By Bollywood Hungama News Network

In one of the largest media and entertainment foreign investments into India, The Walt Disney Company (Southeast Asia) Pte Ltd (TWDC), a subsidiary of The Walt Disney Company, is to invest approximately INR 805 crores (USD 203 million) into UTV Software Communications Limited (UTV). At the same time, TWDC will also invest with UTV in UTV Global Broadcasting Limited (UGBL) by acquiring a 15% stake worth ~ INR 119 crores (USD 30 million). TWDC's investments in UTV and UGBL, together with the warrants to be issued to Ronnie Screwvala's Promoter Group, of INR 390 crores after exercise, makes this