ITV

Tag: UTV Software Communications LTD

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

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

    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.

  • Ronald D’Mello appointed COO of UTV; Zarina Mehta is COO Hungama TV

    Mumbai: UTV Software Communications, India’s leading and most respected integrated media and entertainment companies announced that Mr. Ronald D’Mello, Director – Operations & Finance, will now take on the responsibilities of Chief Operating Officer of UTV Software Communications Ltd.

    In his new role, Mr. D’Mello will be fully responsible for the day to day operational management of the Company, including running of each of the profit centres as also all aspects of implementation, Finance, HR, Legal, cost management and business servicing. Mr. Ronnie Screwvala, CEO of UTV, will now focus on providing strategic direction in the areas of content development, revenue generation and new opportunities through organic and inorganic growth across all lines of businesses. Mr. Screwvala and Mr. D’Mello will work jointly on corporate strategic initiatives, investor management and business development.

    A professional Chartered Accountant, Mr. D’Mello has more than 15 years of post qualification experience in the manufacturing, hospitality and media industry and enjoys the distinction of being one of the longest serving finance professionals in the media industry. Associated with the industry since 1991, he has played a key role in its evolution and been an active participant in industry initiatives at various levels including State and Central Government. Mr. D’Mello joined UTV in 1992 and has played a crucial role in the Company’s evolution.

    In another development, Ms. Zarina Mehta, Founder Director of UTV and Head of Programming, Hungama TV, will now take on the responsibilities of Chief Operating Officer, Hungama TV. In her new role, Ms. Mehta will oversee all aspects of Channel operations and management.

    A graduate in Economics (Honours) from the Mumbai University, Ms. Mehta is one of the three founding members of the company. Over the last 15 years, she has been responsible for the start-up and creation of some of UTV’s major divisions and has produced over 3500 hours of high TRP, award-winning television programming in multiple languages. A multi-award-winning director of corporate documentaries with a passion for children’s television, her initial training was as a theatre actor, where she performed in several leading productions.

    Commenting on these developments, Mr. Ronnie Screwvala, CEO of UTV, says, “UTV is one of the largest fully integrated media companies in the region, and it is our relentless endeavour to ensure constant focus on our key business areas, with an eye to future opportunities. These new responsibilities for Ronald and Zarina will ensure that our current businesses continue to have a single-minded focus, while I can drive creative development, revenue maximization and new business opportunities.”

    About UTV:-
    Incorporated in 1990, UTV has today emerged as one of India’s leading and most respected integrated media and entertainment companies. From a Television Production house, it has grown into an integrated media house with interests in Television Content and Air-time Sales, Movie Production and Distribution, and Broadcasting through their group company United Home Entertainment, which recently launched Hungama TV. In fact, in the last 15 years UTV has established its presence across Asia for its creativity and professional approach to the business. Website: www.utvnet.com

    For further information please contact:-
    Purnima Subbiah / Pooja Nikam
    Good Relations (India) Pvt. Ltd, Mumbai
    Tel No: 022-23535971 / 77
    Mob: 9833100866
    Fax: (022) 3535980
    Email: purnimas@gri.co.in