- Dalian Wanda -- the conglomerate topped by China's second-richest man, billionaire Wang Jianlin -- is ramping up efforts to battle Walt Disney's (NYSE:DIS) Shanghai theme park on the eve of opening a second Wanda City destination.
- Set to open tomorrow, the $5.2B Hefei Wanda City is the second of 15 projects -- a "pack of wolves" that can beat Disney's "tiger," Wang says -- planned to open by the end of the decade. Set about 311 miles west of Shanghai Disney Resort, the development includes not only theme-park facilities but hotels, residences, a movie theater and a shopping mall.
- The first Wanda City opened in southeastern China's Nanchang three months ago; Wanda estimates it will bring 10M visitors a year. It drew 2M visitors in its first month, while it took Disney more than a month to get to 1M visitors.
- Wanda (which was spurned in an effort to buy a minority stake in Paramount Pictures) is reportedly close to a motion picture alliance with Sony.
- Meanwhile, at the Communacopia Conference this week, Disney chief Robert Iger said Disney Shanghai was "well received by the Chinese consumer": "They love this park ... we have attractions and shows that are off the charts in terms of popularity."