Word: disneyland
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...throw in the towel in a market with 1.3 billion potential customers. After more than a decade of negotiations, Disney has received clearance to build its second Disneyland in China, this one in Shanghai. The company announced on Tuesday that China's top planning agency had approved plans to build the new theme park, which will join the existing parks in Anaheim, Calif.; Orlando, Fla., Tokyo, Paris and Hong Kong. (See a brief history of Disney teen stars...
...Although theme parks made up less than a third of Disney's total revenue of $38 billion last year, Shanghai Disneyland still figures to be a key addition to the business because it will boost the company's visibility in one of the world's fastest-growing markets. Due to government rules aimed at protecting the public from what are perceived to be unwelcome foreign cultural influences, awareness of the Disney brand in China lags that of the rest of the world. Unlike in the U.S., where Disney operates a 24-hour TV channel and radio station, the company...
...Since mainland Chinese make up a third of visitors to Hong Kong Disneyland, some fear that the Shanghai park will siphon tourists away from the former British colony, which is part of China but has a semi-autonomous government (mainland tourists must obtain visas to visit Hong Kong). Since opening four years ago, Hong Kong Disneyland has underperformed due to its small size - at 300 acres, it's the smallest of any Disney park - as well as high ticket prices and competition from a nimble competitor called Ocean Park. (Read "The Fifth Happiest Place on Earth...
...slagged worldwide: it's natural to resent the big kahuna. (He should know; his approval rating has dipped below 30%.) In a poolside interview after hosting a global climate summit in Century City, he suggested that outsiders envy California's immense resources - beaches, mountains and redwoods; Hollywood, Napa and Disneyland; the best in stem-cell research, fruits and vegetables, entertainment and fashion. (He was sporting a suit with a zebra-print lining.) "We're all about the cutting edge," he said. "I mean, come on. California is wild!" He's right about the schadenfreude, and it was fun to hear...
...authorities granted a waiver allowing all four children to live under the same roof with the family she'd chosen for them. President Nicolas Sarkozy hosted Picat and her kids - Julie, 12; Thibault, 9; Matthieu, 5; and Margot, 3 - at the Elysée. The family was invited to Disneyland Paris for Christmas - a longtime dream that had been put on hold due to lack of funds. (See pictures of Sarkozy celebrating Bastille...