UMG-Excel Entertainment deal could spur foreign interest in India’s media and entertainment sector

Mumbai: The Universal Music Group-Excel Entertainment deal could catalyse fresh foreign merger and acquisition interest in India’s media and entertainment industry, with the Maharashtra government promoting Mumbai as a global hub to produce creative content, people familiar with the development said.

At least three similar transactions are currently under discussion, though details remain under wraps due to commercial sensitivities, said a top-ranked Maharashtra government official closely tracking the discussions, requesting anonymity.