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The Walt Disney Company has acquired 15 per cent of UTV Global Broadcasting Limited (UGBL), the UTV Software Communications’ broadcasting arm, for Rs 118 Crore. At present 300,000 equity shares of the company is held by the Walt Disney.
About 15,00,000 equity shares of Rs 10 each in UGBL has been assigned to the UTV Software Communications. The UTV Software Communications possesses 75 per cent paid-up share capital of UGBL for Rs 240 Crore through this. This makes the UTV Global Broadcasting Limited a subsidiary of the UTV.
Promoter Ronnie Screwvala holds the remainder 10 per cent. It was announced recently that the Walt Disney Company, through an investment of for Rs 81.83 billion, will acquire 32.1 per cent in UTV Software Communications and 15 per cent in the UGBL.
