Walt Disney offers to buy out UTV


American entertainment giant Walt Disney Company will spend Rs 2,000 crore to take complete control of the Mumbai-based UTV Software Communications.

Walt Disney, which already owns 50.44% stake in UTV, has offered Rs 1,000 per share to acquire the outstanding shares, including that of original promoter Ronnie Screwvala and family.

Ronnie Screwvala and family will divest their 19.8% stake in the firm but the former will remain as managing director Walt Disney’s India operations.