Disney to buy India movie company

[Tom Morrow]

Disney offers to buy India movie production company

Disney Offers to buy out India’s UTV for 20.1 Billion Rupees BusinessWeek Walt Disney Co. offered to buy the rest of India’s UTV Software Communications Ltd. it doesn’t own for as much as 20.1 billion rupees ($454 million), as the world’s biggest media company seeks to expand in Bollywood. Disney, which owns 50.44 percent of UTV, offered to buy all remaining outstanding shares for no more than 1,000 rupees each, the Mumbai-based company said in a statement today. That’s 11 percent higher than the closing price yesterday. Disney will buy a 19.82 percent stake held by the founders, UTV said in the statement. The remaining stake will be purchased from public shareholders. The company’s board today approved Disney’s proposal and UTV will seek permission from the shareholders, it said. The buyout will give the Burbank, California based company control of UTV, which makes and distributes movies and produces television programs, as rising incomes boost spending on entertainment in Asia’s third-largest economy. Revenue from the film industry in India may grow to 132 billion rupees in 2015 from 83 billion rupees last year, KPMG said in March. “Part of Walt Disney’s rationale for increasing its stake in UTV is to get more of a foothold in the film industry,” said Rohit Maheshwari, an analyst at KR Choksey Shares & Securities Pvt. in Mumbai. “It’s the right time to do this because UTV is one of the few players in the market that’s been really successful at making movies.” by Ketaki Gokhale complete article

Related Article:

UTV Software board oks delisting
Times of India

Submitted by Ezra

[Executioner]

DOMINATION is eminent!!! Bow to the Haus of Maus! LOL

[stevo505]

DOMINATION is eminent!!! Bow to the Haus of Maus! LOL

Yeah, just buy the world and get it over with, Disney... :P

[bodhran105]

But doesn't Steve Jobs have enough money to buy, I'm trying to remember the order, but they have enough to buy out the U.S. Gov't. And I think even Disney.

[stevo505]

But doesn't Steve Jobs have enough money to buy, I'm trying to remember the order, but they have enough to buy out the U.S. Gov't. And I think even Disney.

I think Steve Jobs is Disney's largest shareholder already... so he probably could.

[bodhran105]

Yeah, I was reading in an editors piece that Apple has enough money to buy out the U.S. Gov't in it's entirety, including the debt! Which to tell you the truth, I think they could.

[Ezra]

I think this is a smart move on Disney's part. So far they've made three live-action movies in India, and they've been quite sucessful. Even Once Upon a Warrior was a big success, and it was the most expensive movie ever made in India. It's a huge market, because Bombay produces twice as many films as Hollywood anually. Purchasing this media company gives them an in-house distribution structure for their films. The fact that this company produces movies, and television, and video games, makes it an ideal way for Disney to promote it's fledgeling Indian movie company.

[Chris Lang]

Yeah, I was reading in an editors piece that Apple has enough money to buy out the U.S. Gov't in it's entirety, including the debt! Which to tell you the truth, I think they could.

Actually that's not true. Apple has more "cash on hand" than the U.S. Government right now. Doesn't mean they can "buy out the U.S. Government" or even come close to touching the debt which is in the trillions...

[Tom Morrow]

Disney buys UTV mobile gaming unit

Disney reported buying gaming unit of India's UTV MarketWatch Walt Disney Co. took full ownership of the mobile gaming unit of UTV Software Communications Ltd. in a deal likely worth $80 million-$100 million (INR3.90 billion-INR4.90 billion), the Business Standard newspaper (www.economictimes.com) reported on its website Friday. Citing industry sources it didn't name, the report said Disney has bought a 42% stake in UTV Indiagames held by investors and the business' founder and chief executive, Vishal Gondal. UTV Software already held the remaining 58% stake in the gaming unit. In July, Disney agreed to buy UTV Software for INR20 billion. by Bangalore Bureau complete article

Submitted by Ezra

[Tom Morrow]

Disney aquisition of UTV nearly complete

Disney completing UTV acquisition Shack News American multimedia empire Disney is wrapping up its acquisition of Indian multimedia kingdom UTV. Disney already owned 50.4% of UTV, but will snap up the rest when UTV is delisted from the stock exchange. It'll then be integrated into Disney, becoming The Walt Disney Company India. Financial terms of the acquisition were not disclosed. The House of Mouse first bought a 15% stake in UTV in 2006, and has expanded that several times since. UTV has its fingers in many media-pies, packing production and distribution divisions for television and movies, and owning six TV channels. On the gaming front, it has mobile gaming company Indiagames, publisher True Games, and developer and publisher Ignition Entertainment. "Increasing our brand presence and reach in key international markets is a cornerstone of our growth strategy," Walt Disney International chairman Andy Bird said in the announcement. "This acquisition expands our footprint significantly and allows us to more effectively build, monetize and brand multi-platform franchises, and deliver a rich library of content to the world's second largest population." by Alice O'Connor complete article

Press Release:

Disney and UTV to integrate operations
Disney Corporate News

Submitted by Ezra

[Twilight_Roxas]

Wow next Disney might buy a anime company.

[Ezra]

Wow next Disney might buy a anime company.

Disney is already distributing Miyazaki's Studio Ghibli (スタジオジブリ) films since Princess Mononoke in 1997.

[Twilight_Roxas]

I mean't buying a anime company like they did with marvel.

[Tom Morrow]

Disney to beef up investments in India

India OKs Walt Disney proposal to invest in local unit. Wall Street Journal The Indian government Thursday approved a proposal by a unit of Walt Disney Co. to invest 10 billion rupees ($181 million) in expanding its Indian operations. The media major will invest the funds in units including broadcasting firms and in other companies, a statement from the investment regulator said. It didn’t provide further details. Walt Disney earlier this year bought a controlling stake in UTV Software Communications Ltd., one of the largest media and entertainment companies in India. Its local units offer kids television channels in English and in some regional Indian languages. It also runs Internet Web sites that are targeted at children. by R. Jai Krishna complete article

Submitted by Ezra

[Tom Morrow]

Creating an "Indian" Walt Disney Company

Disney's focus in India on media and entertainment Hindustan Times Disney is focusing on India's media and entertainment, which is estimated to touch Rs.917 billion ($17 billion) in 2013, not only because the industry here is poised for a huge leap forward, but because of the rapidly rising middle-class of consumers and their traditional focus on the family said Andy Bird, chairman of Walt Disney International. Speaking at the inaugural session of the 14th edition of FICCI Frames 2013, the annual convention of the Media and Entertainment (M&E) industry here, Bird said the company has grown its other businesses over the past nine years - both organically and also through the acquisition of UTV last year. "When we made the decision to buy UTV, we did it with two considerations in mind - the first was to create a diverse company in India and as importantly to acquire the talents of Ronnie Screwvala to run the new company," Bird said. Bird said that in the transformation towards diversification, the company has not only changed how it looked at the company and its business, but also how it looked at the world. "It's no longer domestic versus international for us. We recognise that each market we enter essentially needs its own Disney company - with strategies and products and messages that are compatible with the culture and relevant to local consumers," he said. Disney sees tremendous opportunity in rapidly emerging markets like China, Russia, Latin America, South Korea and India and hence connecting with consumers in these regions is a key strategic priority. Bird said that in the past, the Walt Disney Company India and the Walt Disney Company China were very similar, largely sales, marketing and distribution organisations for product created in the US. "Today, instead of the Walt Disney Company India, we're creating the Indian Walt Disney Company and, instead of the Walt Disney Company China, we're creating the Chinese Walt Disney Company. Each different to ensure each is as relevant as possible to consumers in each market," he said. "With the acquisition of UTV and the creation of the new Walt Disney Company India, Disney became India's leading film studio and TV producer. We also added six of the country's most popular entertainment, and film channels to our portfolio, so we're now one of India's leading broadcasters as well, reaching more than 100 million viewers every week across the country," he added. Into-Asian News Service complete article

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Submitted by Ezra