After Paramount wanted out of the business they go and do this....

Thursday, May 10, 2007 9:18 PM
Well, after Paramount sold off their North American properties because they wanted out of the amusement business they go ahead and invest for a new South Korean park and not just any park a $1Billion dollar park too. Damn, it looks like they sold off their Canada/US properties and used that money to go ahead and do this... PATHETIC.

http://www.boston.com/news/world/asia/articles/2007/05/10/paramount_to_build_1_bln_korea_theme_park?mode=PF

Either that or the article is wrong but it is CLEARLY dated May 10th 2007 from the Boston Chronicle so who knows?

P.S - I remeber reading about this back in 04/05..I thought it wouldn't happen after the company split up but who knows, maybe someone just posted an older article..beats me. All I know is Paramount is a complete BACKSTABBER, atleast to those of us in Canada/US LOL.

- *** Edited 5/11/2007 1:44:17 AM UTC by Ѕіx Flαgѕ Đαrієή Ĺαkє***

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Thursday, May 10, 2007 9:33 PM
CBS sold the parks, not Viacom.
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Thursday, May 10, 2007 9:46 PM
Hmm well if this is true, then I guess Viacom was mad about losing the parks and still wanted them but since CBS made the deal they have no other choice but to start fresh.
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Thursday, May 10, 2007 11:44 PM
Mad? I don't think giant corporations get mad. They don't even have a soul. They split off that part of the business to CBS because it was a non-growth business they didn't want to be in. Spreading your brand overseas is a different story. There's nothing "pathetic" about it.
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Friday, May 11, 2007 12:21 AM
Business 201

The world is becoming a very small place. Going global is one of the few remaining ways to greatly increase value and profit.

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Friday, May 11, 2007 12:25 AM
Going mad or getting mad, either is unprofitable.

Except for select markets and *boutique marketing* (hi Gonch), there's not really alot of growth potential left in the industry in US, probably even most of Europe.

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Friday, May 11, 2007 1:45 AM
...just passing through this thread....

...oh, hello Gator...

...

(It's like invoking the devil, isn't it? :) )

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Friday, May 11, 2007 2:20 AM
I didn't trust the Paramount end into this either since they gave up on us in the US. I do believe in the affluence of the South Korean people though. Actually I took a tour at this GM Daewoo plant site last month. The city is so built up I'm surprised this land is available. This plant is not out in the country like the Hyundai plant is. Then again their urban planning over the region amazed me as well so I wouldn't doubt on the design of the park either. I'd really like to go back to Incheon to see the changes in the coming years. It's the sister city of Philadelphia - about that size. They are serious about their growth in housing, the international business/trade zone, new business buildings and further infrastructure in Incheon. The construction crane seems to be the official bird of Korea. There is no kidding around with the 2014 Asian Games coming to Incheon. It is the gateway to South Korea.
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Friday, May 11, 2007 10:18 AM

rollergator said:
Going mad or getting mad, either is unprofitable.



Which one of the Ferengi rules of acquisition is that?
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Friday, May 11, 2007 11:59 AM
Why do I have this funny image of Viacom- red-faced and with smoke coming out of its ears- steamin' mad that the Paramount parks were sold off? :)

Yeah, it's a boring Friday morning here at the office...

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Friday, May 11, 2007 12:01 PM
KTS, I think the 28th.
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Friday, May 11, 2007 12:09 PM
Those skirvy minx's! ;)

Sounds like they're looking for a huge write-off.

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Friday, May 11, 2007 3:35 PM
According to this article in Variety, it's Paramount's licensing division that's involved. (Daewoo will actually build and own the park.) So, in this context it makes a lot more sense:

http://www.variety.com/article/VR111796467...yid=18&cs=1

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Friday, May 11, 2007 3:47 PM
The original article doesn't say how the investment is split between Viacom and Daewoo. For all we know, Daewoo might be paying everything up front with Viacom's role being more for theming, concepts and park management.

Took too long to type, hot diggedty, Variety's article says I'm a good guesser.

As for the global thing, didn't Paramount/Viacom ditch their Australian and Spanish park connections and deep six their plans to build a park in China prior to the sale of the U.S. and Canadian properties?

Corporations may not have souls but they still have people calling the shots. I bet Sumner Redstone could have stopped the CBS sale if he didn't want the parks to go. Since he didn't, I doubt if Viacom's complexion has taken on a ruddy hue. *** Edited 5/11/2007 7:49:58 PM UTC by BogeyMon***

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Friday, May 11, 2007 3:53 PM

rollergator said:
Except for select markets and *boutique marketing* (hi Gonch), there's not really alot of growth potential left in the industry in US, probably even most of Europe.

So you think Six Flags Montana and Universal Studios Luxembourg are out of the question? Darn! ;)

$1 billion is a lot of money and should allow for a really nice park. But personally, I just want to see the ferris wheel that look like the Paramount logo get built -- that looks neat-o!

- Aaron K

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Friday, May 11, 2007 3:59 PM

JZarley said:
According to this article in Variety, it's Paramount's licensing division that's involved. (Daewoo will actually build and own the park.) So, in this context it makes a lot more sense:

quote]


Daewoo making cars is one thing, them building a theme park is interesting. I'm surprised the jokes haven't started yet.


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