Walt Disney's Rs 1,000 cr FDI proposal approved

FIPB defers FDI proposals of Multi Screen Media and Scribble Media & Entertainment

BestMediaInfo Bureau | Delhi | August 24, 2012

Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on July 27, 2012, the Government of India has approved the proposal of foreign direct investment (FDI) of Rs 1,000 crore by The Walt Disney Company (Southeast Asia) Pte Ltd. The FDI is proposed for Induction of foreign equity for inter alia expansion of business and making downstream investments in other companies and subsidiaries of the company, including broadcasting companies, in India.

In another decision, the government has deferred the FDI proposal of Multi Screen Media Pvt Ltd for induction of foreign equity to carry out the business of production of television programmes in Indian languages primarily for export, sale and distribution

The FDI proposal of Hyderabad's Scribble Media & Entertainment Pvt Ltd that publishes the evening news publication titled 'Post Noon' has also been deferred.

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