In july 2006, disney india acquired a controlling stake in hungama tv from utv software communications limited while also taking a 14. The walt disney company increases strategic investment in utv. This alliance would include the acquisition by disney. Disney had acquired utv software in 2012, which apart from its studio business, was also into tv broadcasting utv movies, utv action, bindass etc as well as gaming. Cci approves merger of utv software with walt disney. Dis announced today that disneys subsidiary the walt disney company southeast asia pte. Utv software seeks competition panels nod for merger with. Disney adds to its india investment with takeover of utv. A strategic alliance the global opportunities utv software communications ltd. Walt disney proposes to take indias utv software reuters.
Unsubscribe requests may take up to 10 business days to be fully processed. Home trending history get youtube premium get youtube tv best of youtube music sports gaming. The walt disney company has finally made an official announcement that it is acquiring a controlling stake in ronnie screwvalas utv software communications through a delisting offer as part of. Analysts say offer price is fair walt disney to acquire utv shares at 1,100share. Utv ignition games originated as a british video game. Usbased walt disney will launch an offer for delisting shares of media and entertainment firm utv software communications from indian bourses on january 16 next year. Utv motion pictures, also known as disney utv in 2012, was the feature film unit of utv software communications, and one of the leading film studios in india and one of the largest production studios in south asia. Both transactions are subject to certain conditions and regulatory approval. After the walt disney company acquired utv software communications as a wholly owned subsidiary for the walt disney company india, utv ignition games assets were liquidated. Utv software seeks competition panels nod for merger with walt. In general, the utv s opportunities to expand globally include several scenarios. Walt disney plans to buy out utv software holders, delist.
Utv seeks cci approval for merger with walt disney the. The companys board of directors has approved the delisting proposal and the acquisition of shares from the public at a price not exceeding rs 1,000 per equity share. Diversified entertainment group enhances disneys position as a major content player in india. Note that you may have subscribed to communications from the walt disney family of companies, which provides updates and exclusive offers from senders across the walt disney company. The walt disney company to acquire leading indian children. Utv software, a holding company, makes and distributes movies, broadcasts a clutch of movie and entertainment channels, produces content for television and other digital media, and also has a presence in gaming. On 26 september, the disney jeans brand was launched under license to indus clothing, who planned to. Disney to acquire controlling interest in utv software. The us based walt disney company plans to fully acquire the media firm. Utv shareholders sell stake to disney the hindu businessline. Media and entertainment firm utv software communications ltd today said walt disney co has offered to buy out stakes held by public. The walt disney company increases strategic investment in utv mumbai, and burbank, calif.
Bucking the weak broader market, shares of utv software communications rose by more. Walt disney picks up 15% stake in utvs broadcasting arm. Disney to acquire controlling interest in utv software communications limited utv in india disney and utv to integrate operations ronnie screwvala named managing director, the walt disney. Walt disney co, the largest shareholder in indias utv software communications ltd, has proposed to buy most of the shares it does not. Competition watchdog cci today cleared the proposed merger of media and entertainment firm utv software communications with walt disney south east asia at about rs 2,000 crore. The company later became public, on 27 november 1995, and was renamed to utv software communications effective 19 march 1998. Ignition entertainment limited, doing business as utv ignition games, was a video game publisher of indian media conglomerate utv software communications. Now, the renowned showbiz firm is back in action with the restructuring process on in full swing under the leadership of mahesh samat as its managing director who has rejoined the company on october 25, 2016 after four years. Andy bird, walt disney the economic times indiatimes.
Utv software communications abbreviated as utv is an indian mass media conglomerate owned by the walt disney. Frequently asked questions the walt disney privacy center. Disney plans utv software buyout business standard news. Ugbl has allotted 3,00,000 equity shares to walt disney, said utv software informing the bombay stock exchange. In july last year, utv software had announced that walt disney co has offered to buy out stakes held by public shareholders and other promoters of the company in a deal valued around rs 2,000 crore. Utv software, which began as a television content company in 1990, now operates five segments broadcasting, games, motion pictures, digital. Currently, walt disney is the majority shareholder in utv software communications,with 20,497,994 equity shares,accounting for a 50. Media and entertainment firm utv software communications ltd on tuesday said walt disney co has offered to buy out stakes held by public shareholders and other promoters of. The walt disney company is lifting its stake in utv software communications to 32. Walt disney proposal to acquire utv software approved. Cci approves acquisition of utv by walt disney indiacorplaw. Utv software jumps 4% as govt okays walt disney s buyout proposal utv software delisting. Media and entertainment firm utv software communications ltd has approached competition watchdog cci for approval of its proposed merger with walt disney.
Utv is a leading media and entertainment company in india reaching more than 247 million consumers with a presence in motion pictures, television and interactive media. Utv software communications abbreviated as utv is an indian mass media conglomerate owned by the walt disney company india. In july last year, utv software had announced that walt disney co has offered to buyout stakes held by public shareholders and other promoters of the company in. Utv software communications ltd gained 4% on thursday a day after the cabinet committee on economic affairs approved three proposals, including one of walt disney. Govt approves walt disneys shareholding in utv to 100%.
Walt disney co, the largest shareholder in utv software communications ltd, has proposed to buy most of the shares it does not already own in the company, which has a market value of usd 826. Utv motion pictures, also known as disney utv in 2012, was the feature film unit of. Limited the acquirer and utv software communications limited the acquired enterprise under section 31. Utv is listed on indias premier stock exchanges, the bombay stock exchange bse limited and the national stock exchange nse, and the walt disney company holds a strategic stake in the company.
February 18, 2008 utv software communications limited utv and the walt disney company nyse. The walt disney company southeast asia pte ltd, which currently holds 50. Subsequent to the buyout of public shareholders by walt disney company, utv software communications ltd, a promoter group firm, will be. Walt disneys open offer for utv software to begin on oct. Walt disney to more than double utv stake to 32% walt disney co has reached a deal to more than double its stake in indian tv and movie content maker utv, the two firms said, underscoring the us entertainment firm s efforts to expand globally. Us media giant walt disney company, which looks to expand its presence in india, plans to buy out shares held by public shareholders and original promoters of utv software communications and delist the company. Andy bird, chairman of the walt disney international is responsible for disney companies outside usa. The walt disney company said on tuesday afternoon that it had completed its takeover of utv software, a fastgrowing mumbai entertainment. Walt disney acquires controlling stake in utv livemint.
Utv was incorporated as united television software communications on 22 june 1990 by ronnie and zarina screwvala. Walt disney offers to buy full control of indias utv software. Walt disney to buy out utv software in rs 2,000cr deal the. The buyout will give walt disney control over five businesses. Utv software gains 4% as government approves walt disney. Read more about disney plans utv software buyout on business standard. After the takeover by disney, utv software reported huge losses in the two annual financial results filed with the ministry of corporate affairs. Walt disney plans to take full control of indias utv software communications and delist the company, as the u. The studios activities spanned creative development, production, marketing, distribution, licensing, merchandising and worldwide syndication of films in indian territories. Walt disney to acquire utv shares at 1,100share the. The open offer by walt disney for 20 per cent stake in media and entertainment firm utv software has been rescheduled and will now open on october 8. Disney adds to its india investment with takeover of utv software. Utv is listed on indias premier stock exchanges, the bombay stock exchange bse limited and the national stock exchange nse, and the walt disney company holds.
Walt disney to up stake in utv to 32%, invest rs 9. Behind ronnie screwvalas rs 2,000cr walt disney deal. Walt disney to launch delisting offer for utv software on. New york walt disney has offered to acquire the rest of indian media and entertainment company utv software communications that it doesnt already own for. Utv software gains as ccea clears buyout by walt disney. Walt disney to more than double utv stake to 32% walt disney co has reached a deal to more than double its stake in indian tv and movie content maker utv, the two firms said, underscoring the us entertainment firms efforts to expand globally. Rohinton ronnie screwvala, the founder promoter and group ceo of utv software and communications has many firsts to his credit. Walt disney to more than double utv stake to 32% the. In addition, utv ceo ronnie screwvala has been named managing director, the walt disney company india reporting to andy bird. Disney offers to buy out utv software for around rs 2,000 cr. The cabinet committee on economic affairs of the government of india has approved the proposal of walt disney company southeast asia pvt. The competition commission of india cci on august 25, 2011 approved the proposed combination of walt disney company southeast asia pte.
Walt disney was going through a wait and see status since it has closed down its hindi film production operations in india. The recent rs 2,000 crore buyout deal with walt disney. Disney to delist utv shares at rs 1,100 business news. Utv software communications wikimili, the free encyclopedia. Media and entertainment firm utv software communications has fixed the exit price for shareholders at rs 1,100 per share as part of its complete acquisition by usbased walt disney. A strategic alliance case overview this case is about the united television and software company limited utv leadership team considering an alliance with the walt disney company disney in 2006. Utv motion pictures, also known as disney utv in 2012, was the feature film unit of utv software. As per the revised schedule the open offer would begin on october 8 and close on october 27, utv software said in a filing to the bombay stock exchange. Utv seeks cci approval for merger with walt disney news. Walt disney s open offer for utv software to begin on oct 8 the open offer by walt disney for 20 per cent stake in media and entertainment firm utv software has. Currently, walt disney is the majority shareholder in utv software communications, with 20,497,994 equity shares, accounting for a 50. The walt disney company has announced an agreement to acquire 100% of hungama, a leading indian childrens cable television channel, and purchase a minority equity stake in utv software communications ltd. One scenario is to expand the base of utv in the indian market and.
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