Universal Music Takes 30% Stake in India's Excel Entertainment With $267 Million Deal [Yahoo! Finance]
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Source: Yahoo! Finance
Universal Music India has entered into a definitive agreement to acquire a 30% equity stake in Excel Entertainment, valuing the Mumbai-based film and digital content studio at INR2,400 crores ($267 million). The strategic partnership grants UMG global distribution rights for all future original soundtracks from Excel's projects. More from Variety Universal Music Group Proposes Solution to European Commission Objections Over Downtown Acquisition Farhan Akhtar's '120 Bahadur' Set to Make History With Highest-Altitude Film Release (EXCLUSIVE) Farhan Akhtar's '120 Bahadur' Makes History With India Defense Theater Release (EXCLUSIVE) Founded in 1999 by producers Ritesh Sidhwani and Farhan Akhtar, Excel Entertainment has established itself as a major force in Indian cinema and streaming content. The studio's slate includes critically acclaimed titles such as “Gully Boy” (India's 2019 Academy Awards submission), “Zindagi Na Milegi Dobara,” and “Dil Chahta Hai,” as well as Prime Vi
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