Chinese billionaire says Disney destined for failure at the hands of Wanda

Posted Tuesday, May 24, 2016 10:29 AM | Contributed by Jeff

Billionaire Wang Jianlin, who’s starting tourism projects across China as Walt Disney Co. readies to open its first mainland theme park in Shanghai on June 16, said the U.S. company misread the Chinese market and shouldn’t have stepped on his home turf.

“One tiger is no match for a pack of wolves -- Shanghai has one Disney, while Wanda, across the nation, will open 15 to 20,” the 61-year-old chairman of Dalian Wanda Group Co. said in an appearance on a China Central Television show that aired Sunday.

Read more from Bloomberg.

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