Disney Makes Moves in India

UTV Software Communications, an Indian media company that is set to be bought out by Walt Disney (NYSE:DIS), says it might transfer its rights to acquire any stake it doesn’t already own in its gaming software unit, UTV Indiagames. The company, however, says it will only agree to the transfer if Disney buys out and delists UTV Software.

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Here is how Disney shares are trading on the news:

Walt Disney Co. (NYSE:DIS): DIS shares recently traded at $37.61, down $0.09, or 0.24%. They have traded in a 52-week range of $28.19 to $44.34. Volume today was 3,615,714 shares versus a 3-month average volume of 12,196,500 shares. The company’s trailing P/E is 14.92, while trailing earnings are $2.52 per share.

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To contact the reporter on this story: Gina Smith at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com