UTV will also invest Rs 135 crore to enhance its existence in the animation movies segment in the next 3 years.
UTV Software Communication Media Company has announced that they have reached agreement on the terms of a recommended Proposal pursuant to buy the remaining stake in UMP Plc for about $195 million to integrate its movie business.
Walt Disney is close to increasing its stake in Ronnie Screwvala-promoted media company UTV Software Communications to 32 per cent.
Media and entertainment company UTV Software Communications has acquired 80 per cent stake in California-based gaming company True Games Interactive. The acquisition has been done through its gaming arm UTV Interactive.
The first general entertainment channel Bindass will go on air from September 24 along with a Hindi movie channel targeted at youth.
Post strategic sale, Disney will have a representative on the UTV board.
Media and entertainment company UTV Software Communications Ltd has filed a draft prospectus with the Securities and Exchange Board of India for its initial public offer for 59.99 lakh (5.99 million) shares of Rs 10 each.
UTV Software Communications Ltd and its animation division, UTV Toonz, has entered into an animation deal worth $10 million with New York-based BKN New Media Inc.
Media and entertainment company UTV Software Communications would enter the capital market on February 21 with the Initial Public Offer of 69,99,950 equity shares of Rs 10 each through a 100 per cent book building route to finance its expansion plans
UTV Software Communications has launched an English business news channel, UTVi. The channel will go on the air by April-end. The company has entered into a content tie-up with Disney-ABC International Television (Asia-Pacific), the international TV distribution arm of The Walt Disney Company, for news programming & services. The channel is positioned to cater to the growing business aspirations of young Indians. The channel will attempt to de-jargonise the financial markets.
Leading integrated media and entertainment company UTV Software Communications Ltd has decided to divest its entire stake in United Home Entertainment Ltd to the Walt Disney Company
The Finance Ministry further said decision on seven FDI proposals has been deferred.
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore (Rs 23.26 billion).
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He started a fund with Rs 800 crore and made several investments.
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