Disney Looks to Take Over India’s UTV

BURBANK: The Walt Disney Company has offered to buy the rest of the shares of India’s UTV Software Communications it does not already own and delist the company.

Disney already owns 50.44 percent of UTV, and has now offered to buy all remaining shares for as much as 20.1 billion rupees ($454 million).

“Given the multiple stages and the nature of the process, a successful outcome is uncertain,” Disney said in a statement.

If the deal does go through, Rohinton Screwvala, the CEO of UTV, will sell his shares to Disney and take on the role of managing director of The Walt Disney Company India.