BURBANK (dpa-AFX) - Diversified media and entertainment conglomerate Walt Disney Co. (DIS) announced Tuesday that Walt Disney Parks and Resorts Worldwide has agreed to an exclusive long-term license agreement with filmmaker James Cameron's Lightstorm Entertainment and Fox Filmed Entertainment to create Avatar themed lands at Disney parks.
Avatar, a film that set a global box office record, has been hailed as one of the most innovative and visually stunning movies ever produced.
'James Cameron is a groundbreaking filmmaker and gifted storyteller who shares our passion for creativity, technological innovation and delivering the best experience possible. With this agreement, we have the extraordinary opportunity to combine James' talent and vision with the imagination and expertise of Disney,' Walt Disney President and CEO Robert Iger said in a statement.
Burbank, California-based Walt Disney noted the deal gives it the exclusive global theme park rights to the Avatar franchise and provides for additional Avatar themed lands at other Disney parks. The deal will give its theme park guests the opportunity to journey to Pandora and explore the incredible immersive world of Avatar in person.
The company said the first Avatar themed land is being planned at Walt Disney World in Orlando, within the Animal Kingdom park, with construction expected to begin by 2013. The other locations will be determined by Disney and its international theme park partners.
'With two new AVATAR films currently in development, we'll have even more locations, characters and stories to explore. I'm chomping at the bit to start work with Disney's legendary Imagineers to bring our AVATAR universe to life,' Cameron noted.
The deal will enable Walt Disney to bring Pandora to life like never before through this incredible partnership that will combine Cameroon's talent and vision with the imagination and expertise of Disney. Cameron, Avatar's producing partner Jon Landau and their Lightstorm Entertainment group will serve as creative consultants for the parks.
Fox Filmed Entertainment chairmen Jim Gianopulos and Tom Rothman said, 'While Jim is bringing audiences further into Pandora with the next two chapters in the AVATAR motion picture saga, the theme park attraction will likewise bring a new dimension to the amazing universe he created.'
DIS closed Tuesday's regular trading session at $32.31, down $0.20 or 0.62 percent on a volume of 10.12 million shares.
Copyright RTT News/dpa-AFX
