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Thread: Disney plans China park — Shanghai proposal gains momentum

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[quote=MARRIE,356448]Iger said in November that bookings had “fallen off considerably” for the early part of 2009. Disney relies on its theme parks for 30 per cent of its revenue.

Shanghai Disneyland is expected to feature Chinese cultural characteristics as well as attractions built around traditional Disney characters and themes. Only approximations of the theme park’s layout are spelled out in the framework agreement.

The ownership structure resembles some aspects of Disney’s deal in Hong Kong, where a joint venture is majority held by the local government. In recent weeks, the two owners said they are in negotiations to expand the Hong Kong site.

In Shanghai, a newly formed company named Shendi will hold the local government’s interest in the park. Shendi is owned by two business entities under district governments in Shanghai, as well as a third company owned by the municipal government’s propaganda bureau.

Advising the city government in the deal is Shanghai Investment Consulting Corp. — The Wall Street Journal Asia

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