SmarTrend(R) News Watch: Hong Kong Regulators Want Disneyland Performance Details Before Expansion

Sat. July 04, 2009; Posted: 06:56 PM

Jul 04, 2009 (SmarTrend(R) News Watch via COMTEX) -- DIS | Quote | Chart | News | PowerRating -- Hong Kong lawmakers said that they would not approve a plan to expand Disneyland until government officials and the Walt Disney Company (NYSE:DIS) disclose how the park has performed since 2005, according to an AP report. Disney and Hong Kong recently agreed to expand their joint venture at a cost of $450 million to be covered completely by Disney. Hong Kong intends to convert a portion of a loan provided to the company to buy a larger stake in the park, but regardless, the territory's stake in the venture will be diluted to 52% from 57%, according to the report. Pro-government lawmaker Starry Lee said, "We have to decide whether to approve the commitment of this large sum as equity for the expansion of the park, but we have been given very little information. This is really depressing." Another questioned whether the entire stake in the park should be sold completely.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Walt Disney Co The (DIS) click here. Walt Disney Co The (DIS) has Short Term PowerRatings of 5. Details on Walt Disney Co The (DIS) Short Term PowerRatings is available at This Link.

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