The Disney-DeSantis feud may end with a fifth Florida park as Mickey bets on castles

It’s been a roller coaster… but it seems as if Florida Gov. Ron DeSantis and Disney have tied up their two-year feud in a friendly bow. Florida’s tourism board is said to be working with Disney on a development deal that would allow the company to invest $17B into Disney World over the next decade or two. If approved, it’d also allow Disney to have five major parks in the state (there are now four). It’s sparked rumors that Disney could be dreaming up a fifth Florida park to compete with rival Comcast’s Universal Orlando, which is opening a 750-acre “Epic Universe” 10 miles from Disney World next year.

• Happily ever after: The Disney-DeSantis feud began in 2022 after Disney opposed Florida’s “Don’t Say Gay” law. DeSantis took control of the company’s special tax district and even suggested possibly building a prison nearby. The two parties settled a lawsuit in March.

• SPF futures: Disney’s been quiet about a rumored fifth Florida park, which would be its first new location in the Sunshine State since 1998. The last new park Mickey opened was the $5.5B Shanghai Disney Resort back in 2016.

Magic = money… As Disney’s media biz struggles with cord-cutting and blockbuster flops, rides and resorts have kept the company chugging along. Its parks and experiences division brought in 70% of its operating income in its most recent fiscal year — compared to just 11% for streaming, TV, and movies. A decade ago, TV made up over half its operating income, while parks were just one-fifth. Disney tickets aren’t cheap, but the experiences biz saw strong growth last quarter. Disney World alone attracts 50M visitors a year.