Reuters alone with Disneyland Shanghai plans

Reuters broke news on July 29 that plans for a long-discussed Disneyland theme park in Shanghai could include a major media tie-up between Walt Disney Co and the Shanghai government, giving Disney unrivalled access to the market. Reuters obtained a key government document related to Disney’s plan to boost its media business via the launch of the Shanghai theme park and swiftly teamed up with Los Angeles-based correspondent Gina Keating for the exclusive. The joint venture would give Disney a huge advantage over U.S. media rivals by allowing it to bypass foreign film import quotas as well as TV censorship imposed by the central government. It wide global media play, including Canada’s National Post and Financial Post, Hong Kong’s South China Morning Post, Sydney Morning Post and Britain’s Guardian. Disney shares rose nearly 3 percent the following day (see below), though this was in line with the overall market.