Television

Walt Disney to buy out Hungama TV, take 15% stake in UTV

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/05/14/Untitled-1_24.jpg?itok=UIQcGVQS

MUMBAI: The Walt Disney Company today announced that it has entered into an agreement to wholly acquire Hungama TV and take a 14.9 per cent equity interest in media company UTV Software Communications Ltd, in each case subject to regulatory approval.

Disney has entered into an agreement to acquire 100 per cent of United Home Entertainment LTD (Hungama TV) at an enterprise valuation of $30.5 million and purchase equity stake of 14.9 per cent of expanded capital in UTV Software Communications LTD, at a consideration of $ 14 million. So, the total combined investment is $ 44.5 million.

The announcement confirms the news first put out by Indiantelevision.com that Disney would be buying into Hungama TV and picking up a small stake in UTV.

Hungama TV COO Zarina Mehta will be working closely with the Disney team for the next three months to ensure a smooth organisational and operational integration of Hungama TV into Disney's portfolio of kids channels. Post that Mehta will be working with Disney as a consultant for a period of six months to a year.

Once final, the acquisition will firmly establish Disney's ties in a rapidly growing media market where local content product is key. The combination of the three kids' channels -- Disney Channel, Toon Disney and Hungama TV -- will establish Disney as a strong contender against the market leader Turner India (Cartoon Network and Pogo).

"India is a long term strategic priority for the Walt Disney company. The acquisition of Hungama TV and the investments in UTV will significantly advance our presence in India and allow us to develop a strategic relationship with one of the countries leading integrated media companies," said Walt Disney International president Andy Bird.

"Not only will we be acquiring a great channel asset, we will also be able to participate in UTV's diversified businesses and bring to UTV our global media and synergy expertise, including developing and distributing high quality family friendly content in nearly 200 countries worldwide and expanding related franchises across film, TV, music, merchandise, new media and live entertainment," said Bird.

When queried on Disney's plans to launch a theme park in India, Bird answered in the negative. "We are not looking at a theme park in India," he said.

"TV is and will continue to be the major growth engine in building franchise affinity in India. Integrating Hungama TV in the Walt Disney Company's existing India channel portfolio of Disney Channel and Toon Disney will allow Disney to fortify its already strong presence in India's kids TV market," said Disney Channel Worldwide president Rich Ross.

When queried about the integration process of Hungama TV into Disney, Walt Disney Television International (Asia Pacific) senior vice president and managing director Nicky Parkinson said, "At present we are not sure how the integration will take place. We are in the process of finding out a way to best talk to kids. We are not here to cannabalise the market place. India is a relatively nascent market but one which has phenomenal potential."

"Hungama TV has proven its appeal to Indian children and families with compelling entertainment choices and has in a brief period built a strong management team and sucked out a leadership position in the competitive children's TV environment. We are also delighted that Disney has chosen to make a strategic investment in UTV, which will augment our business in India and around the world," said UTV group CEO Ronnie Screwvala.

Launched in September 2004, Hungama is a 24-hour Hindi-language entertainment cable channel for children and is currently in a close fight with Turner's Pogo channel for the the number two position in the Indian kids space behind leader Cartoon Network. Hungama TV has a staff strength of 71.

Disney currently reaches over 107 million television homes in India through a programme block on Doordarshan and Disney Channel and Toon Disney/Jetix reached approximately 30 million homes on cable and satellite in India.

UTV has a diversified set of businesses, which includes television and film production and distribution, animation production, and other services.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/29/go%20%281%29_1.jpg?itok=7-Er07kN
GoQuest Media to globally distribute Cinema Vision content

GoQuest Media Ventures, a distributor of international content to television channels and digital platforms, has joined hands with Cinema Vision India (CVI) promoted by Siddharth Kak to facilitate distribution of content globally.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/29/kabbdi%20%281%29.jpg?itok=BcYw-qV-
Pro Kabaddi: Mashal Sports invites tenders to own & manage new team

Mashal Sports, in which Star Sports owns 74% stake, has, pursuant to the Invitation for Expression of Interest dated 29 March 29, has called for expressions of interest (“EOI”) to be submitted by eligible persons, fulfilling the criteria provided for in the Invitation, who wish to participate in a...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/29/Arun-puri.jpg?itok=89_3x-2M
India Today Online is TVTN's wholly-owned subsidiary now

MUMBAI: India Today Online Private Limited (ITOPL) has now become a wholly-owned subsidiary of TV Today Network Ltd. India Today Online, on 28 March 2017, issued and allotted 1,99,20,000 equity shares of Rs. 10 each to Living Media India Limited (LMIL) which constitutes 21.01% of the paid-up share...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/29/FREEDISH-STB.jpg?itok=l__8ZZuS
FreeDish iCAS STB: Modern Comm, Velankani, BGM, KMTS & Millennium OEMs shortlisted

NEW DELHI: Five companies including two from Delhi have been shortlisted as original equipment manufacturers for set-top boxes for Doordarshan’s FreeDish on the Indian Conditional Addressable System (iCAS). This follows the opening of e-tenders on 9 December 2016 after which these OEMs were found...

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/barck%20%281%29.jpg?itok=eWIvgkHj
BARC India formally sets up independent council to probe viewership malpractices complaints

BARC India has set up an independent disciplinary council to further strengthen transparency and credibility of its measurement system.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/Jim-Gianopulos.jpg?itok=N-QHfz2Z
Viacom names Gianopulos CEO of Paramount Pictures

MUMBAI: Viacom Inc. has announced the appointment of Jim Gianopulos as the chairman and chief executive officer of Paramount Pictures, effective 3 April, 2017. Gianopulos will report directly to Viacom president and CEO Bob Bakish.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/indo-vietnam.jpg?itok=rQDtgDJx
India, Vietnam agree on greater collaboration between pubcasters

NEW DELHI: Information and Broadcasting Minister M Venkaiah Naidu has said India would extend all possible support to promote exchange programmes between public broadcasters of the India and Vietnam in content creation, screening and distribution of films. During a meeting with a Vietnamese...

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/DD-Kashir-V-naidu.jpg?itok=amiTS5gh
DD Kashir packaging agency tenders floated

NEW DELHI: Doordarshan has floated a tender for selecting an agency for channel packaging work for DD Kashir. The Description of task, e-tender submission format and procedure is provided in the Bid document available on the DD website and two e-tendering websites. The pre-bid meeting in this...

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/Times-Now-800x800.jpg?itok=Ckdthpen
Times Now will be globally 'regional', non-mirror HD by next quarter

MUMBAI: Success does not end at leadership, it begins! With an aim to create value and make a difference, he is a man on a mission. He quit News X in November 2016 to fill the the big shoes of Arnab Goswami. Known to be an insightful, incisive journalist, Rahul Shivshankar joined Times Now on 15...

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories