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UTV Software says Disney to increase stake in broadcast

This article was posted on Mar 27, 2009 and is filed under Press Releases

MUMBAI: UTV Software Communications Ltd on Friday said the Walt Disney Company South East Asia will buy 10 percent more in UTV Global Broadcasting Ltd for 329.7 mn rupees.

The shares will be bought from Unilazer Exports & Management Consultants Ltd, a promoter group company of UTV Software. UTV Software holds 75 percent of the broadcasting unit.

The Walt Disney Company South East Asia had taken a 15 percent stake in the broadcasting unit for an enterprise value of 8 bn rupees, it said.

UTV Software said the broadcasting business has met its advertising revenue target for the year to March 2009.

source :Economictimes

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