Disney May Increase Stake In UTV: Report

Entities Mentioned

• Nikhil Pahwa
• Disney
• Ronnie Screwvala
• Ignition Entertainment

1. CNBC-TV18 reports that Disney is on the lookout for acquisitions in India, and it's believed that they are planning to increase their stake in UTV. Disney currently owns 14.85 percent in UTV, which they had picked up for Rs. 65 crore (around $14 million at that time). Disney had also bought Hungama TV from UTV for $30.5 million. Currently, promoters including Ronnie Screwvala own 30.6 percent stake in UTV, of which 17 percent is locked. Screwvala has said that they're talking to multiple strategic and financial investors, but declined to comment otherwise.
   
   
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