MUMBAI, India and Burbank, Calif., July 25
/Xinhua-PRNewswire-FirstCall/ -- The Walt Disney Company today announced
that it has entered into an agreement to acquire Hungama TV, a leading
Indian children's television channel, and take an equity interest in media
company UTV Software Communications Limited, in each case subject to
regulatory approval. Once final, the acquisition will continue to firmly
establish The Walt Disney Company's strategic presence in a rapidly growing
media market, where local content production is key.
''India is a long-term strategic priority for The Walt Disney Company.
The acquisition of Hungama TV, and the investment in UTV will significantly
advance our presence in India and allow us to develop a strategic
relationship with one of the country's leading integrated media
companies,'' said Andy Bird, President, Walt Disney International.
''Not only will we be acquiring a great channel asset, The Walt Disney
Company will also be able to participate in UTV's diversified media
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, television, music, merchandise, new media and live entertainment,''
added Mr. Bird.
''Television is and will continue to be the major growth engine in
building franchise affinity in India. Integrating Hungama TV into The Walt
Disney Company's existing India channel portfolio of Disney Channel, and
Toon Disney/Jetix, will allow Disney to fortify its already strong presence
in India's children's television market,'' said Rich Ross President, Disney
Channel Worldwide.
''Disney's global portfolio of kids' channels seeks to strengthen
connections with kids and families in India and each market we're in by
developing local creative content that represents and reflects the lives of
kids there,'' said Ross.
''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 staked out a leadership position in the competitive
children's television environment,'' said Ronnie Screwvala, Chairman & CEO,
UTV Software Communications Limited. ''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,'' he added.
Zarina Mehta, currently Chief Operating Officer of Hungama TV, will
work with the Disney team on the organizational and operational integration
of Hungama TV into Disney's portfolio of kids' channels.
Launched in September 2004, Hungama is a 24-hour Hindi-language
entertainment cable channel for children and is consistently one of the
top-rated channels in India's children's market.
Disney currently reaches over 107 million television homes in India
through a program block on the terrestrial network and Disney Channel and
Toon Disney/Jetix reached approximately 30 million homes on cable and
satellite in India and together rank number two in the market. Toon Disney
is number one in South India.
UTV has a diversified set of businesses, which includes television and
film production and distribution, animation production, and other services.
About The Walt Disney Company
The Walt Disney Company (NYSE: DIS), together with its subsidiaries and
affiliates, is a leading diversified international family entertainment and
media enterprise with four business segments: media networks, parks and
resorts, studio entertainment and consumer products. Disney is a Dow 30
company, had annual revenues of nearly $32 billion in its most recent
fiscal year, and a market capitalization of more than $62 billion as of
July 14, 2006.
About Disney Channel
Disney Channel offers an unparalleled blend of quality Disney
entertainment and distinctive, originally produced programmes that kids
love and families trust and enjoy including Disney's movies and series,
sitcoms, family dramas and live action adventure stories. The channel's
multi-genre programming is designed to serve India's preschool, kids and
family viewers
About Toon Disney in India
Toon Disney, a 24-hour basic cable channel geared towards kids age 2-11
with a core of kids age 6-9, showcases a variety of Disney's classic and
contemporary animated series and movies plus the fantastical
action/adventure programming under the Jetix brand. India's Toon Disney
programming is available in Hindi, Tamil, Telugu and English.
About Hungama TV
Hungama TV is India's first made in India 24-hour entertainment channel
for kids, with localized content, in India's national language, Hindi.
Positioned as a general entertainment channel targeted at kids between the
age group of 4 -14 years Hungama TV has multi genre programming like drama,
action, game shows besides animation to appeal to all sub segments. Hungama
TV's core philosophy is to provide entertainment where kids are part of the
programming and marketing initiative making it a channel for, of and by the
kids. UHE (United Home Entertainment -- a separate company floated by
Ronnie Screwvala and UTV) is its holding company. More information on
Hungama TV log on to http://www.hungamatv.com .
About UTV Software Communications Ltd.
Incorporated in 1990, UTV has today emerged as one of India's leading
and most respected integrated media and entertainment companies. Listed on
the Indian Stock Exchange, it has grown from a Television Production house,
into an integrated media company with leadership position in Television,
Motion Pictures and Broadcasting -- through its kids channel -- Hungama TV.
UTV has established its presence with offices across Asia, UK and USA and
is known as a brand for creative and execution excellence.
About the Acquisition
The Walt Disney Company has announced an agreement to acquire 100% of
Hungama, a leading Indian children's cable television channel, and purchase
a minority equity stake in UTV Software Communications Ltd., a listed,
diversified Indian media company that owns Hungama. Both transactions are
subject to certain conditions and regulatory approval.
For more information, please contact:
Asia Pacific
Alannah Goss
Corporate Communications
Tel: +852-9673-1887
Email: Alannah.goss@disney.com
Inez Ho
Disney-TV International
Tel: +852-9098-4011
Email: inez.ho@disney.com
India
Sesha Kanthamraju
Tel: +91-98-2071-5609
Email: Seshasaye.Kanthamraju@disney.com
US
Michelle Bergman
Corporate Communications
Tel: +1-818-560-8231
Patti McTeague
Disney-ABC Television Group
Tel: +1-818-955-6743
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SOURCE The Walt Disney Company (Asia Pacific) Limited
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Related links:
http://www.hungamatv.com
CONTACT:
US - Michelle Bergman, Corporate
Communications, +1-818-560-8231, or Patti McTeague of Disney-ABC
Television Group, +1-818-955-6743, or in Asia - Alannah Goss,
Corporate Communications, +852-9673-1887, or
Alannah.goss@disney.com, or Inez Ho of Disney-TV International,
+852-9098-4011, or inez.ho@disney.com, or in India - Sesha
Kanthamraju, +91-98-2071-5609, or
Seshasaye.Kanthamraju@disney.com
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