New Disney Park?

Could Disney be on the verge of announcing a brand new park in China? If all goes according to plan, and remember it don’t always, but come next week we should finally hear some news about that mythic sixth Magic Kingdom everyone keeps whispering about.

Disney and the Shanghai government have been waiting since January for Beijing’s approval to move forward with what would be the country’s second Disneyland, after a Hong Kong park opened in 2005 to a string of operational problems and lackluster attendance.

“Beijing has approved the project. Now it’s up to Shanghai and Disney to work out the plan and make this thing happen,” a Shanghai government source familiar with the situation told Reuters on Wednesday.

The plan calls for a large theme park and hotel complex to open in 2013 in the southern outskirts of Shanghai’s Pudong district. Media reports have placed the cost of the park around $3.6 billion.

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