In the wake of deadly coronavirus spreading in China, Disney has shut down Shanghai Park. The outbreak of the Wuhan virus in the country has taken a toll on many lives, having claimed 132&nbsp;lives already and thousands infected.&nbsp;

Considering the Shanghai Park is a major tourist attraction in China, Disney’s move comes as part of the country’s measures to restrict exposure to the public at large.&nbsp;

The announcement was made by the Shanghai Disney Resort on its website over the weekend. The website cited the reason behind its closure as: "in response to the prevention and control of the disease outbreak." <a href="https://www.wionews.com/india-news/coronavirus-debuts-in-india-possible-cases-registered-nationwide-infected-thai-national-dead-in-kolkata-277047">Also read:&nbsp;Coronavirus scare in India: Possible cases registered nationwide, infected Thai national dead in Kolkata</a>

The website also mentioned that the resort will offer a refund to every guest who has already paid for the ticket including admission fees, hotel bookings and all the pre-purchased entertainment tickets for the park.&nbsp;

There was no mention, however, on the date of the reopening of the park.

<h2><a href="https://www.wionews.com/world/coronavirus-outbreak-beijing-drug-store-fined-434530-for-hiking-price-of-masks-277178">Coronavirus outbreak: Beijing drug store fined $434,530 for hiking price of masks</a></h2>

China is currently dealing with coronavirus that originated in Wuhan. The virus has also been reported in other countries as people continue to travel from China because of the health scare. Around 10 cities in China’s Hubei province have travel restrictions, including Wuhan.

Recently, China celebrated the Lunar New Year, a major festival in the country but all the festivities were cancelled over the fear of the virus. Beijing too did not celebrate Lunar New Year, which is a rare and drastic step.

In the wake of deadly coronavirus spreading in China, Disney has shut down Shanghai Park. The outbreak of the Wuhan virus in the country has taken a toll on many lives, having claimed 132 lives already and thousands infected.

In the wake of deadly coronavirus spreading in China, Disney has shut down Shanghai Park. The outbreak of the Wuhan virus in the country has taken a toll on many lives, having claimed 132 lives already and thousands infected. Considering the Shanghai Park is a major tourist attraction in China, Disney’s move comes as part of the country’s measures to restrict exposure to the public at large. The announcement was made by the Shanghai Disney Resort on its website over the weekend. The website cited the reason behind its closure as: "in response to the prevention and control of the disease outbreak." Also read: Coronavirus scare in India: Possible cases registered nationwide, infected Thai national dead in Kolkata The website also mentioned that the resort will offer a refund to every guest who has already paid for the ticket including admission fees, hotel bookings and all the pre-purchased entertainment tickets for the park. There was no mention, however, on the date of the reopening of the park. Coronavirus outbreak: Beijing drug store fined $434,530 for hiking price of masks China is currently dealing with coronavirus that originated in Wuhan. The virus has also been reported in other countries as people continue to travel from China because of the health scare. Around 10 cities in China’s Hubei province have travel restrictions, including Wuhan. Recently, China celebrated the Lunar New Year, a major festival in the country but all the festivities were cancelled over the fear of the virus. Beijing too did not celebrate Lunar New Year, which is a rare and drastic step.

Disney closes Shanghai park as China deals with deadly coronavirus

Walt Disney Co's theme parks lifted quarterly earnings past Wall Street targets on Wednesday, helping offset big investments to support the media and entertainment company's bid to draw audiences to streaming media.

Shares of Disney rose 1.5 per cent to $137 in after-hours trading.

'Avengers: Endgame',&nbsp;the end of a decade-long superhero series with $2.2 billion in box office sales worldwide, will stream exclusively on Disney+ starting December&nbsp;11, the company announced.

Growth at Disney parks in the United States boosted results above analyst expectations. From January to March, Disney reported adjusted earnings per share of $1.61, ahead of analyst estimates of $1.58, according to IBES data from Refinitiv. Heavy investment accounted for a 13 per cent drop from a year ago by that measure.

Revenue rose 3 per cent to $14.92 billion. Analysts had been expecting a small decline.

Disney is trying to transform from a cable TV leader to a streaming media powerhouse that, like Netflix Inc, sells subscriptions directly to consumers. Costs to build digital services will weigh on profits for several years, the company has said.

Its biggest streaming bet, the family-oriented Disney+, is set to launch in November. The company told analysts in April that it expects Disney+ to achieve profitability in fiscal 2024.

The just-ended quarter reflected the purchase of film and TV assets from 21st Century Fox, which brought Disney more content for its streaming future.

For the quarter, the direct-to-consumer and international unit recorded a loss of $393 million from streaming costs.

Disney also recorded a $353 impairment charge from its ownership stake in media startup Vice.

In the theme park unit, net income hit $1.5 billion as more visitors showed up at Walt Disney World in Florida and at Hong Kong Disneyland, and occupied hotel nights increased.

"Increased ticket prices haven’t put visitors off, and hotels continue to be a major driver of additional spending," said Nicholas Hyett, equity analyst at Hargreaves Lansdown. "It’s easy to get caught up in the hype surrounding new films ... but it’s the less glamorous Media Networks and Parks that pay the lion’s share of the bills."

Overall net income jumped 85 per cent, to $5.4 billion, thanks to Disney's acquisition of a controlling stake in Hulu through the Fox acquisition.

Media networks, a division that includes ESPN and ABC, reported $2.2 billion in operating income for the quarter.

The movie studio reported a profit of $534 million, lifted by 'Captain Marvel,'&nbsp;which was a global hit but did not reach the level of 'Black Panther'&nbsp;and 'Star Wars: The Last Jedi'&nbsp;a year earlier.

Walt Disney Co's theme parks lifted quarterly earnings past Wall Street targets on Wednesday, helping offset big investments to support the media and entertainment company's bid to draw audiences to streaming media.

Walt Disney Co's theme parks lifted quarterly earnings past Wall Street targets on Wednesday, helping offset big investments to support the media and entertainment company's bid to draw audiences to streaming media. Shares of Disney rose 1.5 per cent to $137 in after-hours trading. 'Avengers: Endgame', the end of a decade-long superhero series with $2.2 billion in box office sales worldwide, will stream exclusively on Disney+ starting December 11, the company announced. Growth at Disney parks in the United States boosted results above analyst expectations. From January to March, Disney reported adjusted earnings per share of $1.61, ahead of analyst estimates of $1.58, according to IBES data from Refinitiv. Heavy investment accounted for a 13 per cent drop from a year ago by that measure. Revenue rose 3 per cent to $14.92 billion. Analysts had been expecting a small decline. Disney is trying to transform from a cable TV leader to a streaming media powerhouse that, like Netflix Inc, sells subscriptions directly to consumers. Costs to build digital services will weigh on profits for several years, the company has said. Its biggest streaming bet, the family-oriented Disney+, is set to launch in November. The company told analysts in April that it expects Disney+ to achieve profitability in fiscal 2024. The just-ended quarter reflected the purchase of film and TV assets from 21st Century Fox, which brought Disney more content for its streaming future. For the quarter, the direct-to-consumer and international unit recorded a loss of $393 million from streaming costs. Disney also recorded a $353 impairment charge from its ownership stake in media startup Vice. In the theme park unit, net income hit $1.5 billion as more visitors showed up at Walt Disney World in Florida and at Hong Kong Disneyland, and occupied hotel nights increased. "Increased ticket prices haven’t put visitors off, and hotels continue to be a major driver of additional spending," said Nicholas Hyett, equity analyst at Hargreaves Lansdown. "It’s easy to get caught up in the hype surrounding new films ... but it’s the less glamorous Media Networks and Parks that pay the lion’s share of the bills." Overall net income jumped 85 per cent, to $5.4 billion, thanks to Disney's acquisition of a controlling stake in Hulu through the Fox acquisition. Media networks, a division that includes ESPN and ABC, reported $2.2 billion in operating income for the quarter. The movie studio reported a profit of $534 million, lifted by 'Captain Marvel,' which was a global hit but did not reach the level of 'Black Panther' and 'Star Wars: The Last Jedi' a year earlier.

Disney parks lift earnings, 'Avengers: Endgame' streaming date announced

Disney chief executive Robert Iger on Monday said that nearly a million people have visited the entertainment giant&#39;s theme park opened less than a month ago in mainland China. 
 
&quot;It would be safe to assume almost a million people have experienced the park,&quot; Iger said during an on-stage chat at a Fortune Brainstorm Tech conference in Aspen, Colorado. 
 
Visitors to the park are staying longer than expected each day and showing fondness for Chinese barbecued pork with rice, cheeseburgers, and turkey legs, according to Iger. 
 
&quot;We are introducing turkey legs to China&quot;, Iger quipped. &quot;Which I thought was a mistake, but we are selling 3,000 a day.&quot; 
 
Each turkey leg, sourced from Poland, costs more than $8 USD.&nbsp; 
 
Disney set the entrance fee at 499 yuan ($76) during peak periods and 370 yuan ($56) for other times, in a country where the average monthly disposable income is just $278. 
 
Disney opened the massive Shanghai theme park to the public in mid-June, hoping to win over communist-ruled China&#39;s growing middle class with the ultimate American cultural export. 
 
The Shanghai resort is the US company&#39;s sixth in the world and the first in mainland China -- there is already one in Hong Kong. 
 
Disney tailored park attractions for China and left out some American trademark features, such as Main Street USA. 
 
&quot;I very much wanted to avoid being called a cultural imperialist,&quot; Iger said of work that went into tuning the Disney park for Shanghai. 
 
Disney said its philosophy is to integrate local elements throughout, from the Chinse food on the menu to the attractions -- even the Disney castle is topped with a traditional peony flower. 
 
Iger referred to the Shanghai project as a lesson in patience and perseverance, saying nearly 18 years elapsed from when he first stepped on the site for a survey to the day of the ribbon-cutting ceremony. 
 
The park is the most technologically advanced ever constructed by Disney, Iger said. 
 
Workers broke ground on the project in 2011 and the Shanghai Disney Resort now sprawls over 3.9 square kilometers (1.5 square miles) on the city&#39;s outskirts, with a fairy-tale castle soaring over the horizon. 
 
But the launch of the $5.5 billion resort, representing one of the biggest foreign investments ever in China, comes as growth in the world&#39;s second largest economy slumps to its lowest level in a quarter-century. 
 
Still, Disney deemed the world&#39;s most populous country too big to ignore. 
 
There is competition for tourist cash as China builds more theme parks than any other country in the world. 
 
(AFP)

Disney said its philosophy is to integrate local elements throughout, from the Chinse food on the menu to the attractions

Disney chief executive Robert Iger on Monday said that nearly a million people have visited the entertainment giant's theme park opened less than a month ago in mainland China. "It would be safe to assume almost a million people have experienced the park," Iger said during an on-stage chat at a Fortune Brainstorm Tech conference in Aspen, Colorado. Visitors to the park are staying longer than expected each day and showing fondness for Chinese barbecued pork with rice, cheeseburgers, and turkey legs, according to Iger. "We are introducing turkey legs to China", Iger quipped. "Which I thought was a mistake, but we are selling 3,000 a day." Each turkey leg, sourced from Poland, costs more than $8 USD. Disney set the entrance fee at 499 yuan ($76) during peak periods and 370 yuan ($56) for other times, in a country where the average monthly disposable income is just $278. Disney opened the massive Shanghai theme park to the public in mid-June, hoping to win over communist-ruled China's growing middle class with the ultimate American cultural export. The Shanghai resort is the US company's sixth in the world and the first in mainland China -- there is already one in Hong Kong. Disney tailored park attractions for China and left out some American trademark features, such as Main Street USA. "I very much wanted to avoid being called a cultural imperialist," Iger said of work that went into tuning the Disney park for Shanghai. Disney said its philosophy is to integrate local elements throughout, from the Chinse food on the menu to the attractions -- even the Disney castle is topped with a traditional peony flower. Iger referred to the Shanghai project as a lesson in patience and perseverance, saying nearly 18 years elapsed from when he first stepped on the site for a survey to the day of the ribbon-cutting ceremony. The park is the most technologically advanced ever constructed by Disney, Iger said. Workers broke ground on the project in 2011 and the Shanghai Disney Resort now sprawls over 3.9 square kilometers (1.5 square miles) on the city's outskirts, with a fairy-tale castle soaring over the horizon. But the launch of the $5.5 billion resort, representing one of the biggest foreign investments ever in China, comes as growth in the world's second largest economy slumps to its lowest level in a quarter-century. Still, Disney deemed the world's most populous country too big to ignore. There is competition for tourist cash as China builds more theme parks than any other country in the world. (AFP)

Shanghai: Disney theme park nears a million visitors