The Walt Disney Company plans to set up a wholly owned subsidiary in India. The Indian arm will be initially capitalised at $30 million (around Rs 150 crores). It will launch and distribute its popular cable channel, The Disney Channel.
Walt Disney filed an application with the Foreign Investment Promotion Board (FIPB) for setting up the new subsidiary. The proposal is yet to be approved by FIPB.
The subsidiary will be positioned as a vehicle for developing other Disney businesses in India including theme parks and resorts, Internet and other new media, etc.
The initial $30 million investment will be made through Walt Disney Television International (Asia Pacific), a Hong Kong based subsidiary (investment vehicle) of the company.