By Dow Jones Business News, October 24, 2013, 06:15:00 AM EDT
By R. Jai Krishna
NEW DELHI--Walt Disney Co. ( DIS ) said Thursday its managing director in India, Ronniew Screwvala, has decided to step
down and that he will be replaced by Siddharth Roy Kapur, who heads the unit's studio's business.
Mr. Kapur will become Disney UTV's managing director on Jan 1. Mr. Screwvala will stay with the company until June 30
to help in the management transition, it said in a news release.
Mr. Screwvala plans to "pursue his entrepreneurial goals" and spend more time with the Swades Foundation, a nonprofit
organization that he had set up to work on rural development.
The change comes as Disney is consolidating its India operations amid a boom in the country's media and entertainment
industry, triggered by a rise in advertising spending and consumption.
The U.S.-based company entered India in July 2004. It bought a stake in UTV Software & Communications Ltd., which was
founded by Mr. Screwvala, in 2006 and later increased that to a controlling holding. In 2012, UTV Software &
Communications was renamed Disney UTV.
India is the world's third-largest TV market--after China and the U.S.--with almost 138 million TV households, as per
a report by KPMG and the Federation of Indian Chambers of Commerce and Industry. The country still has about 88 million
households without a TV, indicating the industry's potential for growth.
The media and entertainment industry is likely to expand 14% annually until 2015, with segments such as TV, gaming and
animation expected to outpace the industry's overall growth, according to the report.
Disney UTV provides kids television channels in English and in some Indian languages as well as runs websites targeted
at children. It also runs TV channels targeting youth and families and owns digital interactive and other businesses.
Write to R. Jai Krishna at email@example.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
Copyright (c) 2013 Dow Jones & Company, Inc.