Disney, UTV seal $203 mil deal

Disney secures 32% stake in Bollywood giant

NEW DELHI -- The Walt Disney Co. has formalized a deal to spend $203 million to raise its equity stake in Bollywood's UTV Software Communications, Mumbai-based UTV said Friday.

In the deal announced in February, Disney's stake in UTV rose to 32.1% from 14.9%. In the deal now closed, UTV sold equity to Disney at $21.5 per share.

UTV Motion Pictures is among the biggest studios in Asia. It has 12-18 movies slated this year, including M. Night Shyamalan's thriller "The Happening," a co-production with 20th Century Fox.