The Walt Disney Company has obtained a controlling stake in UTV including the media firm’s games publishing arm UTV Ignition.
Disney will complete the acquisition shortly via a delisting action where UTV’s shares will be removed from local stock exchanges.
As part of the deal, Disney will integrate UTV’s current operations, with UTV CEO Ronnie Screwvala named MD of The Walt Disney Company India. He will report to Walt Disney International chairman Andy Bird.
Disney will also receive UTV’s Indiagames, said to be the nation’s leading mobile games company, as well as UTV Ignition, which has published boxed games such as El Shaddai and Quarrel over the past 12 months.
"This acquisition expands our footprint significantly and allows us to more effectively build, monetise and brand multiplatform franchises, and deliver a rich library of content to the world’s second largest population," said Bird.
The full story can be found at MCV