Financial Times FT.com

Disney buys time in India

By Joe Leahy, Andrew Hill and Paul Betts

Published: February 19 2008 02:37 | Last updated: February 19 2008 02:37

Weekend Indian movie goers were treated with the premiere of Jodhaa Akbar, a romance about the Mughal emperor Akbar and a Hindu princess, Jodhaa.

Walt Disney’s deepening affair with UTV Software Communications, the maker of Jodhaa Akbar, is more utilitarian. The US group bought 15 per cent of the moviemaker and broadcaster founded by entrepreneur Ronnie Screwvala in 2006 and later took over its Hungama children’s channel. Now Disney is taking a punt on Mr Screwvala again, paying $203m to increase its stake in UTV to 32.1 per cent and give it equal representation on the board.

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