July 11, 1994 |
While the audience inside Washington's Uptown Theater was voicing its resounding approval of Walt Disney Co.'s new animated feature, "The Lion King," company Chairman Michael Eisner was getting a very different reception outside: 100 sign-toting demonstrators were chanting "Disney go home!" The purpose of the recent protest was to urge Eisner to shelve plans for the controversial Disney's America theme park near their homes in suburban Virginia.
CALIFORNIA | LOCAL
June 27, 1994 |
Top Walt Disney Co. officials on Sunday praised the cooperation they have received from the city, state and federal governments in helping to finance a planned $3-billion theme park resort, but said the project is still too financially risky to build. "They have done the best they can do," said Roy Disney, vice chairman of the board of directors in lauding the government help. "We're still looking for a way of getting it done. It's a very big project."
June 23, 1994
The Balboa Fun Zone, which has been for sale since being placed in receivership in 1992, has been sold to the park's operators--two men who first worked for the small amusement park before they were teen-agers. "We started working here in 1951 as 12-year-olds, picking up paper and blowing up balloons," said Joe Tunstall, who has operated the park for several years with Bob Speth. "Now, we own it."
June 9, 1994 |
Attendance is still falling at Euro Disneyland, and French stock market regulators issued a rare warning to shareholders Wednesday as park officials forecast more losses. At an extraordinary meeting where they approved a financial rescue plan, shareholders heard a litany of bad news but were told to expect improvement. The park, which opened in April, 1992, welcomed 10.5 million visitors in its first year, 500,000 under expectations. In the second year, the figure fell to 9.
June 2, 1994 |
"Someday, my prince will come . . . " --Snow White, 1937 Someday was Wednesday for Walt Disney Co. and its partners in Euro Disney, as a Saudi Arabian prince pledged to invest up to $500 million in a plan designed to rescue the deeply troubled theme park.
May 20, 1994 |
The 61 creditor banks of the ailing Euro Disney theme park have agreed to a financial restructuring plan aimed at reviving the debt-ridden resort, two of the banks said Thursday. Banque Nationale de Paris and Banque Indosuez said a sufficient number of banks have agreed to cover 51% of a capital boost for Euro Disney. The rescue package features a $1.05-billion capital increase through an offering of stock planned for this summer. Shareholders have yet to consider the overall plan.