What's Going On With Disney Stock Friday?
Portfolio Pulse from Anusuya Lahiri
Walt Disney Co (NYSE:DIS) is in a legal dispute with the Central Florida Tourism Oversight Board, appointed by Governor Ron DeSantis, over development contracts for its Florida-based theme parks. The company has filed a lawsuit in Florida's Orange County, seeking to ensure the board respects the previously agreed-upon contracts. The dispute has escalated since Disney opposed the 'Don't say gay' law passed by Florida. DeSantis' board is considering cutting $8 million of the district's annual spending for law enforcement provided exclusively to Disney's properties.
August 18, 2023 | 5:03 pm
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Disney is in a legal dispute with the Central Florida Tourism Oversight Board over development contracts for its theme parks. This could potentially impact the company's operations in Florida.
The ongoing legal dispute could potentially disrupt Disney's operations in Florida, which could negatively impact the company's revenues and profitability. Furthermore, the potential cut in law enforcement spending for Disney's properties could increase the company's security costs.
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