Wednesday, October 28, 2009
Fresh (and good) news today as it seems that the official announcement of Shanghaî Disneyland is expected anytime soon. First, a Chinese newspaper, the Securities Times, reported that "the Walt Disney Company’s planned theme park in Shanghaî has been approved by government regulators. The report said the Shanghaî Disneyland project plan was passed by a government body earlier this month.
Citing unnamed sources, the newspaper revealed that "Currently, it is going through the final administrative process, with a formal announcement likely to be made to the public this week".
Also today, Reuters press agency said that a Shanghaî government source familiar with the situation told them that "Beijing has approved the project. Now it's up to Shanghaî and Disney to work out the plan and make this thing happen". Of course, both spokespeople from Disney and the Shanghaî government said they had nothing to announce at this time. Disney spokeswoman Leslie Goodman even declared "No deal has been agreed to, no project has been approved".
BUT anticipation is riding high that good news on Disney will be timed to coincide with Barack Obama's visit to China from November 15 to 18. If the deal is done, Obame's first visit to China would be indeed a perfect timing to announce officially the Shanghaî Disneyland deal.
Under a plan agreed upon by Disney and the Shanghaî government in January, Disney would own a 43 percent equity stake in the new theme park and a local government-owned joint venture holding company would own 57 percent. The plan calls for a large theme park and hotel complex to open in 2013.
The project is expected to cost 3.585 billion USD. The theme park would be located in Chuansha A08-03 lots, close to the subway and the planned Olympic Park.
From Reuters and Examiner.com