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.

© Guardian News & Media 2008
Published: 2/19/2008
 
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