Update: Looks like Reuters (NSDQ: RTRSY) got it wrong: I just spoke to a UTV spokesperson, who told me that Disney’s open offer to UTV Software shareholders is a part of the process of acquiring a total 32.1 percent stake. So they’re not acquiring a controlling stake.

Original Story: Disney (NYSE: DIS) will increase its shareholding in Indian TV network UTV Software to 32.1 percent for a sum of $200 million, and is eying a controlling stake in the company: Disney will make an open offer to UTV Software shareholders for 20 percent stake in the company, at Rs. 860.79 per share for 7.75 million shares, as per an ad issued in the Business Standard newspaper htre. The open offer amounts to Rs. 667.11 crores, and once it is completed, Disney will hold 51.1 percent stake in UTV Software - a controlling stake.

Apart from this, Disney will also invest approximately $30 million for a 15 percent stake in UTV Global Broadcasting Limited (UGBL), which has launched two channels recently, and has more planned. UTV Software will also invest $60 million in UGBL for a 75 percent stake, while the remaining shares (10 percent) will continue to be held by the Unilazer and the promoter group. Disney will have the right to nominate one director to the board of UGBL...more on our India site ContentSutra, here.