Universal Music Group’s Indian division has secured a significant minority stake in one of Bollywood’s leading production houses, gaining global soundtrack rights in the process, it was confirmed on Monday.
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.
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Founded in 1999 by producers Ritesh Sidhwani and Farhan Akhtar, Excel Entertainment has established itself as a major force in Indian cinema and
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