Disney, Shanghai deal close to Beijing approval

While Disney and city officials in Shanghai have all but finalized a deal to build a Disney-branded amusement park just outside the city, both must still await government approval from officials in Beijing. That wait may soon be coming to a close. Officials confirmed Monday that approvals are in place and an announcement will be made as soon as this week. Though city officials are keen to be candid on the subject, Disney officials are still playing coy. "No deal has been agreed to, no project has been approved," said Leslie Goodman, one of the executive vice presidents for Disney Parks and Resorts Group. Either way, it seems clear that we will hear something very soon. Stay tuned. [Businessweek]