News

Disney acquires UTV

Walt Disney has fully acquired Indian media group UTV, having paid $454m for the shares it did not already own.

The global media empire plans to delist UTV from the stock exchange and create Disney Company India, a holding company that will manage UTV alongside its other assets in the region.

Disney Company India will be managed by UTV chief executive Ronnie Screwvala. He will report to Andy Bird, chairman of Walt Disney International.

“Increasing our brand presence and reach in key international markets is a cornerstone of our growth strategy,” says Bird.

The acquisition places Disney as India’s leading film studio. They will produce both UTV and Disney-branded local films.

David Hing, London