Walt Disney completes UTV acquisition

Walt Disney has concluded the acquisition of UTV, the Indian media group, for $454 million by buying the remaining shares. The deal was completed after a public tender offer for 20 per cent of the UTV shares owned by individual investors.
With this acquisition, Disney plans to kickstart Walt Disney Company India, a new holding company that will manage UTV alongside its other assets in the country. It also plans to produce Disney and UTV-branded films in India.
Disney already operates three TV channels in India with 200 employees. The acquisition will increase its workforce to more than 1,100.