D'Amaro cited “Florida's business-friendly climate” as justification. Mr. D'Amaro's tone in an email to employees on Thursday was notably chillier. He cited “changing business conditions” as a reason for canceling the Lake Nona project.
What did Disney cancel?
Disney canceled a new, nearly $1 billion employee campus in Orlando on Thursday, the New York Times first reported. Why it matters: The cancellation comes amid a yearslong feud between Disney and Florida Gov.
What campus did Disney cancel?
Company cited "new leadership and changing business conditions," a memo said.
What was Disney’s billion dollar project?
The company is scrapping plans to build a $1 billion office complex in Florida, citing “changing business conditions,” according to a memo provided by a Disney spokesperson. The Lake Nona development was envisioned as a regional hub for parks and resorts.
Why did Disney cancel Florida project?
Citing 'considerable changes' to business conditions, Disney canceled plans for an office complex expected to bring more than 2,000 jobs to Orange County. Disney has scuttled a Florida office construction project that would have been worth nearly $1 billion amid an ongoing feud with Gov. Ron DeSantis (R).
What billion dollar project did Disney cancel?
Why did Disney cancel Florida Project?
Citing 'considerable changes' to business conditions, Disney canceled plans for an office complex expected to bring more than 2,000 jobs to Orange County. Disney has scuttled a Florida office construction project that would have been worth nearly $1 billion amid an ongoing feud with Gov. Ron DeSantis (R).
Why did Disney cancel the Florida Project?
Citing 'considerable changes' to business conditions, Disney canceled plans for an office complex expected to bring more than 2,000 jobs to Orange County. Disney has scuttled a Florida office construction project that would have been worth nearly $1 billion amid an ongoing feud with Gov. Ron DeSantis (R).
Did Disney lose 512 million?
Disney Shrinks Streaming Losses to $512M, Ups Cost-Cutting Goal From $5.5B. The impact of Bob Iger's restructuring of The Walt Disney Co. is apparent in the company's latest quarterly earnings report. The Disney CEO says that the company is now set to exceed its initial goal of $5.5 billion in cost savings.
Why can t Disney just leave Florida?
A leading expert on Disney World's history in Florida told Insider that the amusement park is tied to its Florida home, due to its expensive operations and sprawling size. "They're stuck there," Richard Foglesong, the author of the book "Married to the Mouse: Walt Disney World and Orlando," told Insider.
What movie made Disney lose the most money?
Unfortunately, his John Carter was the biggest live-action failure Disney has ever had. The movie had a huge budget of $250 million, and it even eventually crossed the $300 million mark before tax deductions (via Forbes).