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Expansion Eyed for Disney Shanghai

Walt Disney Co.’s new Shanghai resort is not scheduled to open until 2015 but already there is talk of expanding it, according to media reports on Tuesday. Chief Financial Officer Jay Rasulo, speaking at the UBS Global Media and Communications Conference in New York, said the theme park would be the third largest operated by the Burbank company, with the potential of being the second highest in attendance behind Walt Disney World Resort in Orlando, Fla., according to Bloomberg News. The $4.4 billion Shanghai park will span 1,000 acres – and include two hotels and an outdoor recreation area – but there has already been talk of its expansion once its opens, he said. “We’re opening the park for a pretty healthy number of attendees, but more importantly both we and our partners and the Shanghai government are eager and willing to expand rapidly after that,” Rasulo said, at the conference. Disney owns 43 percent of the venture and Shanghai Shendi Group Co., a state-owned consortium of three businesses, owns the rest. Industrial & Commercial Bank of China Ltd. is the park’s first corporate sponsor. Disney shares closed up 46 cents, or a fraction of a percent, to $71.57 on the New York Stock Exchange.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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