Disney In Distress Again? DeSantis' Board Reportedly Weighs Drastic Budget Cuts In Mouse House's Florida District
Portfolio Pulse from Shanthi Rexaline
Florida Governor Ron DeSantis' board is reportedly planning to cut millions of dollars worth of spending in the special governing district where Walt Disney World operates. The board is considering cutting $8 million of the district's annual spending meant for law enforcement provided exclusively to Disney's properties. This comes after Disney voiced opposition against the 'Don't say gay' law passed by Florida, leading to retaliatory tactics from DeSantis.
July 28, 2023 | 5:28 am
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NEGATIVE IMPACT
Disney's stock may be negatively impacted by the planned budget cuts in its Florida district. The company's opposition to a Florida law has led to retaliatory measures from the state.
The planned budget cuts in Disney's Florida district could potentially impact the company's operations and financial performance in the region. This, in turn, could put downward pressure on Disney's stock in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100