Paramount denies plans for Chinese park with Hong Kong developer (updated)

Posted Saturday, May 28, 2005 11:08 AM | Contributed by supermandl

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.

Saturday, May 28, 2005 11:15 AM
crazy horse's avatar I thought that Viacom wanted to unload the parks they have now.
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Saturday, May 28, 2005 12:07 PM
Jeff's avatar 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.
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Saturday, May 28, 2005 5:06 PM
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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