Disney to raise Shanghai theme park investment

Walt Disney (DIS.NYSE) agreed with its joint-venture partner on Monday to inject a further US$800 million into its theme park in Shanghai to pay for additional rides and attractions, Reuters reported. The joint venture’s total investment in the theme park, which is slated to open in late 2015, will now total US$5.5 billion after the increased investment. State-owned Shanghai Shendi will continue to hold 57% of the shares of the owner companies, while Disney said it will hold the remaining 43%. China’s fast-growing entertainment and media market is expected to grow to US$148 billion by 2015 from around US$120 billion in 2013.