Disney Gets India Cable Channel

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Walt Disney Co. said Monday that it has reached a deal with India to invest $31 million to own and operate an entertainment channel in the country.


Analysts say the deal is part of a move by India to attract more foreign direct investment to create jobs and accelerate annual economic growth to 10 percent from an average 8.2 percent since 2003. India has received $50 billion of foreign direct investment in the last 15 years, while China received $60 billion in 2005 alone.


Shares in the Burbank-based entertainment company were up 31 cents to $32.20 in early trading Monday.

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