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Disney, DeSantis feud ends in $17 billion development deal

Florida Governor Ron DeSantis's battle with Disney (DIS) has ended after striking a deal to approve a 15-year plan to expand the company's Orlando parks without state and local government interference.

Yahoo Finance's Alexandra Canal reports more on the story and what it means for investors.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Melanie Riehl

Video transcript

Disney's battle with Florida.

Governor Rhonda Santa.

It's finally over joining us now to explain Yahoo finance his own Alexander Canal.

Hey, hey, Julie.

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Yes.

So it's been years since this battle first began and it's all ending with the $17 billion development plan for Orlando's Walt Disney World Resort.

Now, let's take a, take a quick step back here because Disney and Santa have been fighting over Disney special tax district.

This was previously known as the Creek Improvement District and it allowed Disney to operate as a self governing entity since its inception.

So no government involvement whatsoever.

However, the Santa seized control of the district last year following Disney's opposition to the state so called, don't say gay law.

Now, this law forbids instruction on sexual orientation and gender identity from kindergarten through third grade.

Now, at the time of that take over the San removed Disney's board members.

He invalidated agreements between Disney and the district and then he went and appointed five new people to call the shots here.

So essentially he took control over this board.

This led to a lot of back and forth lawsuits that both the state and federal level especially as it relates to free speech.

But that all ended last night after a unanimous vote approved a 15 year plan to expand what Disney World under this new agreement, he will be able to 1/5 theme park along with other smaller theme parks like water parks.

For example, you also have the opportunity for Disney to expand its hotel offerings.

It's retail and office space.

So at the end of the day, Disney got what it wanted and that's the ability to expand these parks without state or local government interference.

So at least for the next 15 years that that is protected.

And so we were talking about this out.

So basically for investors listening right now they take away is what you fundamentally does is just at least the very moving a distraction for Disney C Suite.

Yeah, that's what I think since I've been covering this, it hasn't really moved the needle in terms of the stock price, but it was a distraction.

It was something that Bob Iger had to bring up at shareholder meetings over the past few years.

So I think related to that proxy battle that we recently saw the conclusion of this was another battle that was an overhang for the company.

So I think it's, it's good news that we finally have reached the conclusion.

All right.

Thank you.