Paramount denies plans for Chinese park with Hong Kong developer (updated)
Posted
Viacom Inc.'s Paramount Parks plans to build a $1.5 billion theme park in the eastern Chinese city of Hangzhou in partnership with Shui On Group Ltd., a Hong Kong developer, according to the municipal government and the builder.
Read more from Bloomberg.
Update: Paramount denies they're involved in these plans. Read more from Bloomberg.
That doesn't mean it's not profitable, it just doesn't offer the growth that the execs thing is necessary to keep the stock price high. That's the stupid short-term mentality that people have these days.
Looks like Viacom is saying it has no plans for this park.
http://www.bloomberg.com/apps/news?pid=10000080&sid=aovc5z1oWxes&refer=asia
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