Shanghai Theme Park a Go!
Good news for Disney fans in China. 
BURBANK, Calif., Nov 03, 2009 (BUSINESS WIRE) — The Walt Disney Company today announced that the Project Application Report (PAR) for a Disney theme park in the Pudong district of Shanghai has received approval from the relevant authorities of the central government of China.
“China is one of the most dynamic, exciting and important countries in the world, and this approval marks a very significant milestone for The Walt Disney Company in mainland China,” said Robert A. Iger, president and CEO of The Walt Disney Company.
The PAR approval will enable Disney and its Shanghai partners to move forward toward a final agreement to build and operate the park and begin preliminary development work. Upon completion of the final agreement, the project’s initial phase would include a Magic Kingdom-style theme park with characteristics tailored to the Shanghai region and other amenities consistent with Disney’s destination resorts worldwide.
SHANGHAI (Dow Jones)–The Shanghai Municipal Government will own 57% of the Disney theme park to be built in Shanghai, the People’s Daily reported Thursday, citing unnamed sources.
Walt Disney Co. (DIS) will own the remaining 43% stake, it said.
The report said the park will cost an estimated CNY24 billion and won’t open until 2014 at the earliest.
