Walt Disney acquires 15% stake in UTV Global Broadcasting

The Walt Disney acquired 15% stake in UTV Global Broadcasting (UGBL) for Rs 118 cr, Walt Disney company currently having 300,000 equity shares in the company.UTV S/w Comm has been allotted 15,00,000 equity shares of Rs 10 each in UGBL. In this, UTV Software Communications will hold 75% and 10% is held by promoter Ronnie Screwvala.The company said in Feb 2008 that Walt Disney would pick up 32.1% in UTV S/w Comm & 15% in the UGBL for Rs 81.83 billion. UGBL launched four channels from September2007 channel's, ‘Bindass’, movie channel,‘Bindass Movies’, global films channel, ‘World Movies’, Hindi movie channel UTV Motion Pictures and business news channel UTVi.