UTV Software Communications on Friday said it will buy 10 per cent more in UTV Global Broadcasting Ltd for Rs 329.7 million.
Written by Reuters
Mumbai |
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UTV Software Communications on Friday said it will buy 10 per cent more in UTV Global Broadcasting Ltd for Rs 329.7 million.
The shares will be bought from Unilazer Exports & Management Consultants Ltd,a promoter group company of UTV Software. UTV Software currently holds 75 per cent of the broadcasting unit.
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The Walt Disney Company South East Asia had earlier taken a 15 per cent stake in the broadcasting unit for an enterprise value of 8 billion rupees,it added.
UTV Software said the broadcasting business has met its advertising revenue target for the year to March 2009.
