Disney Takes Ownership Of Disneyland Paris, Their Wallets Let Out A Sigh Of Relief
Last week the Walt Disney Company was pretty busy. Between dropping posters and teaser trailers for movies, they also bought 97% of the stock to Disneyland Paris, giving them full ownership of the resort after 25 years. This was likely due to the park being a financial burden for the company, though I do not see the park closing due to poor sales. In 2016 the park amassed over $900 million in loss, due to tourism in Paris dropping after terrorist attacks.
However the park has always faced financial troubles. A quick Google search yields hundreds of results, such as the one where Disney bailed the park out in 2016, and this article on why the park has never really turned a profit. The park opened in 1992 to a somewhat lukewarm reception, and in 1994 the park almost went bankrupt. By comparison the Asian parks tend to be better received, but both Honk Kong and Shanghai reported a loss in 2016 due to low tourism. Tokyo Disneyland, however, has been doing well since the park first opened. Last year the park had another record breaking profit year, which is no small feat for a theme park. Of course Tokyo Disney isn't owned by the Walt Disney Company, but rather Oriental Land.