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 amp; 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.
