Global Confidence Boost: Universal Music Partners with Excel Entertainment

Maharashtra CM Devendra Fadnavis announced a strategic tie-up between Universal Music Group and Excel Entertainment, highlighting Mumbai's rising status in the global media landscape. Universal Music India acquired a 30% equity stake in Excel Entertainment, valuing the studio at Rs 2,400 crore, reinforcing confidence in India's creative economy.

Maharashtra Chief Minister Devendra Fadnavis highlighted a landmark strategic partnership between Universal Music Group and Excel Entertainment, signaling growing confidence in India's creative economy and further cementing Mumbai's reputation as a global media hub.

Universal Music India made headlines by acquiring a 30% equity stake in Excel Entertainment, a film and digital content studio founded by Ritesh Sidhwani and Farhan Akhtar, valuing the company at Rs 2,400 crore.

Chief Minister Fadnavis credited Prime Minister Narendra Modi's leadership for the vision that led to this collaboration, emphasizing that Mumbai not only participates in the global media ecosystem but also plays a pivotal role in shaping it.

(With inputs from agencies.)