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July 25, 2006
Disney to Buy Indian Children's TV Channel
Walt Disney Co. has agreed to buy Hungama, an Indian children's cable and satellite TV channel that broadcasts in Hindi, for $30.5 million as it tries to keep pace with rivals in the fast-growing market. As part of the deal, Disney said on Tuesday it would pay an additional $14 million for a 14.9 percent stake in UTV Software Communications Ltd. (UTVS.BO), the diversified Indian media group that owns film and television assets, including Hungama via its United Home Entertainment unit.
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