Disney wins approval to build theme park in Shanghai
The Chinese government has approved a request from the Walt Disney Co. and its Shanghai partners to build a theme park in the country's richest city. The project is expected to cost several billion dollars. Disney has been talking about building a Shanghai park for more than a decade. "It gives Disney an opportunity to monetize its brand without necessarily having to produce filmed content," said David Bank, an RBC Capital Markets analyst. Bloomberg (11/04)