I realise that this thread is fairly old, but I thought I would provide a more detailed answer for anyone who stumbles on this in the future.
If your server can run Python scripts, then you should be able to run Django without a problem. You will however need access to configure Apache (or whatever server platform you use) to use mod_wsgi, mod_python, or FastCGI. Django and other Python frameworks are a tad different from PHP because they run as a separate process and interface with Apache, rather than being part of the Apache process itself (like PHP).
The Django framework itself is stored inside your Python installation's site-packages directory. This directory is within the import scope of Python, so when you write "import django.x", it is importing the appropriate module from the Django framework located in your site-packages directory. You can run multiple websites off of one Django installation, but they will have to run as separate Django instances (different instances of startserver). You can run multiple sites off of one instance, but I would not recommend this.
There are a variety of scripts to manage starting, stopping, and restarting Django instances. I personally use this one: http://code.djangoproject.com/wiki/InitdScriptForDebian
I would recommend checking out the Django documentation on deployment: http://docs.djangoproject.com/en/1.2/howto/deployment/. The information here should help anyone get started on deploying Django.