Disney Expands Indian Presence

The Walt Disney Co. upped its stake by $200 million in an Indian media and entertainment company to further establish itself in the market. The Burbank-based media company will have an Indian subsidiary own 32 percent in UTV Software Communications Ltd. Disney will also invest $30 million for a 15 percent stake in UTV Global Broadcasting Limited. Disney took an initial equity interest in UTV following the July 2006 acquisition of acquired Hungama TV, a leading Indian children’s television channel. “We are pleased with our initial investment in UTV, which has strong local brands and media properties that provide complementary growth platforms to Disney’s existing branded efforts,” said Andy Bird, chairman, Walt Disney International.