Walt Disney Picks Up 15% Stake In Utv's Broadcasting Arm

Entities Mentioned

• Bombay Stock Exchange
• UTV Software
• Walt Disney

1. UTV Software Communications Ltd has sold 15 per cent stake in its broadcasting arm, UTV Global Broadcasting Ltd (UGBL), to Walt Disney (NYSE: DIS) Co Pte Ltd for $28.15 million. UGBL has allotted 3,00,000 equity shares to Walt Disney, said UTV Software informing the Bombay Stock Exchange. At the same time UTV Software allocated 1.5 million shares of UBGL to itself, constituting a 75 per cent stake in UBGL. These shares have been allotted at Rs 10 each for total consideration of $57 million (Rs 240 crore)The broadcasting arm is the parent company for its ... (Read Full Article)
   
   

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