Walt-Disney has reached a deal to more than double its stake in Indian TV and movie content maker UTV, the two firms said, underscoring the U.S. entertainment firm's efforts to expand globally.
Disney will raise its holding in UTV Software Communication to 32.1 percent, the same level as UTV's founders, from 14.9 percent, by acquiring 9.35 million shares for 8.05 billion rupees ($203 million), at 860.79 rupees a share.
"This investment further underlines our commitment to international growth," Walt Disney International Chairman Andy Bird told reporters.
India has the world's third-largest cable TV market, which is forecast to become Asia's most lucrative pay TV market by 2015.
Via Talk-Desi
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