Mickey Mouse China invasion
Google, which says it’s pulling out of China after being hacked, is among investors in a consortium that’s planning to “promote Mickey Mouse in China”, says China Daily.
“The consortium planned to buy a stake of between 30 and 40 percent in Bus Online for more than $100 million via a purchase of old and new shares to be issued by the company in private placements,” says the story.
“Disney wants to be a strategic partner not just a financial investor in Bus Online as Disney is going to do many things in China – for example, the theme park to be opened in Shanghai,” it has an unidentified source saying, going on:
“To Disney, the deal is not just about sharing in the growth of China’s advertising market but more about the promotion of Disney, the brand itself, and this is strategically important to Disney in China.”
Disney has already made a “breakthrough deal” to build a theme park in Shanghai, “marking a major advance for Western media and entertainment companies seeking to crack the tough Chinese market”, says China Daily, adding:
“Senior executives of Disney are expected to fly to Beijing to meet Chinese media regulators to discuss Disney’s long-term development plan in China including the Bus Online deal, said another source.”
But “no agreement had been signed yet”.
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