Universal Music Group to acquire a 30% stake in Excel Entertainment for $80m.

Universal Music Group, a global music corporation, agreed to acquire a 30% stake in Excel Entertainment, an Indian production company, for $80m. “Farhan and Ritesh have built an exceptionally impressive business, and we’re thrilled to be working with them on the next phase of their journey. The Indian film scene presents a hugely exciting opportunity for music and the music-led entertainment business, and Excel is the perfect partner for us to work with going forward," Devraj Sanyal Universal Music India Chairman and CEO.