UTV Software Communications Ltd, an Indian media and entertainment company, has declared that company will purchase an additional 10% stake in the UTV Global Broadcasting Ltd.
The deal is priced at Rs 329.7 million.
The shares will be purchased from UTV Software’s promoter group company, Unilazer Exports & Management Consultants Ltd.
UTV Software holds 75% of UTV Global.
UTV Software also said that its broadcasting section has met its advertising revenue objective for the year to March 2009.