Tuesday, July 25, 2006

Disney Makes Indian Investment, Acquisition

Burbank-based Walt Disney Company announced this morning that it has acquired an Indian children's television channel, Hungama TV, and also agreed to take an equity interest in UTV Software Communications Limited, a media company in India. Walt Disney said that the investment and purchase would establish the company's strategic presence in a rapidly growing media market, where local content production is key. Disney said that the deal with UTV would also include development and distribution of family friendly content in nearly 200 countries worldwide.