The Expanding Entertainment Universe
The $19 billion Walt Disney-Capital Cities/ABC deal shows once again that entertainment has replaced the defense and auto industries as the driving force of the U.S. economy. Proof? Run the numbers: Entertainment is the No.1 American export (bigger than aircraft), new-job generator (bigger than health care), and technology driver (the hottest software is developed for Jurassic Park, not Star Wars missile defense). The surge in entertainment is clearly a positive force for growth.
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