Disney to buy UTV Software
Entertainment giant Walt Disney is all set to buy out Mumbai-based UTV Software Communications! Walt Disney Company (South East Asia) Pte. Ltd., a subsidiary company, will buy out public shareholders and other promoter holdings (RS Promoters) in UTV for around Rs. 2,013 crore. Disney currently owns 50.44% in UTV Software. Ronnie Screwvala, the current CEO of UTV, will also sell his shares to Disney and become the Managing Director of The Walt Disney Company India.
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