Disney Foothold in India
Walt Disney company pays $203m (£104m) to increase its stake in film and television production company in Mumbai
The Walt Disney company is strengthening its foothold in India's entertainment industry by paying $203m (£104m) to increase its stake in UTV, a film and television producer based in Mumbai. Under the deal, which is one of Hollywood's biggest steps into south Asia, Disney's shareholding in UTV will rise from 13.7% to 32.1%.
UTV is best known in Europe and America for co-producing last year's hit movie The Namesake which followed the struggles of Gogol Ganguli, the son of Indian immigrants living in New York.
UTV is best known in Europe and America for co-producing last year's hit movie The Namesake which followed the struggles of Gogol Ganguli, the son of Indian immigrants living in New York.
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