Disney to Acquire Controlling Interest in UTV Software Communications Limited (UTV) in India
Disney to Acquire Controlling Interest in UTV Software Communications Limited (UTV) in India Disney and UTV to integrate operations -- Ronnie Screwvala named Managing Director, The Walt Disney Company India -- Burbank, Calif. and Mumbai, India (January 31/February 1, 2012) – The Walt Disney Company (NYSE: DIS) announced today it will acquire, through a subsidiary, a controlling interest in UTV, one of India’s premier media and entertainment companies. The acquisition will be completed through a successful delisting offer and will enable Disney to integrate UTV’s current operations. In addition, UTV CEO Ronnie Screwvala has been named Managing Director, The Walt Disney Company India reporting to Andy Bird, Chairman, Walt Disney International. “Increasing our brand presence and reach in key international markets is a cornerstone of our growth strategy. This acquisition expands our footprint significantly and allows us to more effectively build, monetize and brand multi-...