Overview
- Universal Music India signed a definitive agreement to acquire a 30% stake in Excel Entertainment at a ₹2,400 crore valuation (about $266–267 million).
- UMG will distribute all future original soundtracks from Excel projects worldwide and will launch a dedicated Excel music label under its umbrella.
- Universal Music Publishing Group becomes Excel’s exclusive publishing partner, opening opportunities to integrate UMG and UMI artists into Excel productions.
- Devraj Sanyal will join Excel’s board while founders Ritesh Sidhwani and Farhan Akhtar retain control over creative direction and content decisions.
- The companies named AZB & Partners and KPMG as advisers to UMG and Morgan Stanley, Khaitan & Co., and Ernst & Young advising Excel, with a press conference announcing the deal reportedly attended by Maharashtra Chief Minister Devendra Fadnavis.