Disney forgoes royalties to help HKDL

The Walt Disney Company will forgo royalties from Hong Kong Disneyland as part of a plan to help the park boost its woeful attendance figures, according to a Hong Kong news report. The WDC also said that it had reached an agreement with lenders to temporarily remove debt conditions on its $293 million loan to allow it to make further investments in the park. Hong Kong radio station RTHK said Friday the agreement, which will remove targets set by the lenders, were announced by Walt Disney's chief financial officer Tom Staggs in Los Angeles. Last week, the Hong Kong government, which holds a 57% stake in the theme park, said it was also considering more funding for the park, which government officials admit to being criticized as "small."