Wednesday, July 26, 2006

Walt Disney buys into Hungama Kids TV Channel

Walt Disney Company (Southeast Asia) Pte Ltd based in Singapore has bought the 49% shareholding of Ronnie Scewvala's UTV Software Communications Ltd (UTV) in Mumbai-based, United Home Entertainment Ltd (UHE) for Rs 142 crore (US$30.5 million).

The deal is subject to regulatory approval.

UHE owns the successful Hungama kids TV channel broadcast and distributed across India.

A second move by Disney Singapore is to take a 14.9% in UTV by Walt Disney.

UTV Software is listed on the Bombay Stock Exchange.

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