Hong Kong to Disclose Plans for Disney Park
Details on the theme park that the Walt Disney Co. plans to build in Hong Kong will be released Tuesday, the Hong Kong government said, concluding months of negotiations.
Several Chinese-language newspapers on Monday reported conflicting information about the value of the theme park and land deal, the construction schedule and the size of the government’s stake. Previous reports estimated the deal at about $3 billion.
The government hopes a Disney park will boost the economy, which had been badly bruised by Asia’s financial crisis.
For Disney, the world’s second-largest media company, the park would be its first in Asia outside Japan and give it a foothold in the potentially huge Chinese market without exposing it directly to the vagaries of doing business in mainland China.
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