Disney to Acquire Leading Indian Children's Channel - Business Wire, 7/25/06
The Walt Disney Company to Acquire Leading Indian Children's Channel, Hungama TV, and Makes Strategic Investment in UTV Software Communications
Full Story: Disney to Acquire Leading Indian Children's Channel
MUMBAI, India & BURBANK, Calif.--(BUSINESS WIRE)--July 25, 2006--The Walt Disney Company (NYSE: DIS) today announced that it has entered into an agreement to acquire Hungama TV, a leading Indian children's television channel, and take an equity interest in media company UTV Software Communications Limited, in each case subject to regulatory approval. Once final, the acquisition will continue to firmly establish The Walt Disney Company's strategic presence in a rapidly growing media market, where local content production is key.
"India is a long-term strategic priority for The Walt Disney Company. The acquisition of Hungama TV, and the investment in UTV will significantly advance our presence in India and allow us to develop a strategic relationship with one of the country's leading integrated media companies," said Andy Bird, President, Walt Disney International.