Walt Disney grows business in India

MUMBAI, India -- Walt Disney Co. has reached a deal to more than double its stake in Indian TV and movie content maker UTV, the two firms said, underscoring the U.S. entertainment firm's efforts to expand globally. Disney will raise its holding in UTV Software Communication to 32.1 percent, the same level as UTV's founders, from 14.9 percent, by acquiring 9.35 million shares for 8.05 billion rupees, or $203 million U.S. dollars.