Disney is Scrapping Plans for a New $1 Billion Florida Campus

Disney has abandoned plans to open up a new employee campus in Lake Nona, Florida, amid rising tensions with the state’s governor.

via: CNN

Disney is scrapping plans to build a $1 billion office complex in Florida, citing “changing business conditions,” according to a memo provided by a Disney spokesperson.

The decision comes at a time when the company is openly feuding with DeSantis, who is expected to officially enter the 2024 GOP presidential race next week, CNN reported Thursday.

A spokesperson for DeSantis said it was “unsurprising” that Disney would cancel the project “given the company’s financial straits, falling market cap and declining stock price.”

Disney, along with the broader media industry, is grappling with a difficult advertising environment and a massive writers strike. Earlier this year it announced it would be cutting 7,000 jobs as part of a cost-cutting effort.

Separately, the company confirmed Thursday that it would shut down its Star Wars: Galactic Starcruiser resort at Disney World just over a year after it opened.

The popular attraction “will take its final voyage” at the end of September, Disney said, adding that it is working with guests to rebook reservations for later in the year.

The campus in Lake Nona, Florida, in the greater Orlando area, was expected to add 2,000 jobs, many of which were set to be relocated from California.

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