US-based entertainment company The Walt Disney Company, has completed its acquisition of UTV Software Communications Ltd. UTV is one of India’s premier media and entertainment companies producing popular movies such as Rang De Basanti and Delhi Belly, and the recent hit TV show Dance India Dance.

Disney will delist UTV from the Indian Stock Exchange and create a new holding company, Walt Disney Company India, to manage all UTV assets in the country. Disney plans to produce Disney and UTV-branded films in India. Disney already operates 3 TV channels in India, employing roughly 200 people. The newly formed company will employ upwards of 1100 people after the acquisition is completed.