Well the Boardwalk Times is reporting Disney news from outside the states. The Walt Disney Company has successfully taken full ownership of Disneyland Paris. In order to take full ownership, Disney must own 95% of the stock. Disney reached 97.08% ownership of the resort. The remaining shareholders will see their shares automatically redeemed at the price of €2 each.
Disneyland Paris lost over $900 million last year due to terrorist attacks in France. The tourism industry in France has been falling. Disneyland Paris has never been a financial success. Now with Disney taking control one can only hope that the resort finally turns around.
Some of you may be shocked that Disney doesn’t fully own their foreign resorts. Disney has similar deals with Shanghai Disneyland, Tokyo Disneyland, and Hong Kong Disneyland.
Disneyland Paris might even get more creative attention due to the full ownership.
Zach Perilstein is the Editor-in-Chief at the Boardwalk Times.
