— This is the script of CNBC's news report for China's CCTV on April 29, Tuesday.
Welcome to the CNBC Business Daily.
Disney is exploring another whole new world of investments... this time betting big on China.
The Magic Kingdom upping its investment into its Shanghai resort by 800 million dollars.
CNBC's Brian Sullivan caught up with Disney CEO Bob Iger and asked him what was behind Disney's decision.
A: OUR INITIAL INVESTMENT SIGNIFICANT AND SINCE WE MADE DECISION TO RBEKA GROUND SEEN DRAMATIC DEVELOPMENTS IN CHINA IN TERMS OF DEVELOPMENT AND THE NUMBER OF DIFFERENT DIRECTIONS - GROWTH IN THE MIDDLE CLASS, GROWTH OF TOURISM EXTREMELY IMPRESSIVE, GROWTH OF MEDIA, E-COMMERCE, MOVIES... I CAN NAME MANY... RECENT ESTIMATES IS THAT 330 MILLION INCOME QUALIFIED PEOPLE WILL LIVE WITHIN 3 HOURS OF SHANGHAI WHERE WE'RE BUILDING SO THAT'S A LOT OF PEOPLE. SO WE DECIDED WITH OUR PARTNERS IN SHANGHAI GOVERNMENT TO ACCELERATE THE EXPANSION OF THE PARK. WE'VE BEEN SO IMPRESSED, WE THOUGHT SMARTER TO EXPAND FASTER. THIS ADDITIONAL $800 MN DOLLAR EXPANSION NEEDS TO BE READY WHEN WE OPEN IN 2015.
Q: OBVIOUSLY YOU HAVE EARNINGS, YOU CANT TALK DETAILED NUMBERS, I GET IT. HOWEVER, ...
(BOB: YOU'RE GOING TO TRY)
BRIAN: OF COURSE i'M GOING TO TRY, BOB, OF COURSE. THAT'S WHAT I DO. THE PARK'S BEEN DOING WELL, THE ECONOMY'S DOING WELL. ANY SIGN THAT THAT'S CHANGING? CAN YOU SPEAK THAT MACRO?
A: WELL THE ONLY THING I CAN SAY IS...
Q: HOW ABOUT THIS - HOW'S THE DISNEY ECONOMY DOING?
A: WE'RE VERY CONSUMER FACING. THE DISNEY ECONOMY IS INTERESTING. IT'S CLEARLY WE FALL PREY TO THE UPS AND DOWNS OF THE VARIETY OF DIFFERENT MARKETPLACE AND CIRCUMSTANCES. BUT WE'RE ALSO VERY VERY TIED TO OUR OWN INTELLECTUAL PROPERTY AND WHETHER WE MAKE GREAT STUFF OR NOT. SO WHEN YOU HAVE 'FROZEN' IN THE MARKET PLACE, OR 'CAPTAIN AMERICA' TO NAME A FEW... OBVIOUSLY THE DISNEY ECONOMY IS UP TREMENDOUSLY. GENERALLY, THE DAY IN AND DAY OUT ECONOMY THAT WE SEE - WE'RE BASICALLY SEEING IN THE U.S., THAT THE CONSUMER IS LESS FEARFUL THAN THE CONSUMER WAS PROBABLY IN THE LAST 5 TO 6 YEARS, IN CERTAINLY 2008. I'M NOT SUGGESTING THERE'S A LOT MORE EXUBERANCE IN THE MARKETPLACE. WE FEEL THAT THERE'S LESS FEAR.
Disney agreed to buy Maker Studios for $500 million last month... in a deal that makes Disney a major distributor of online video.
But there was another deal that didn't seem to work out that well for the Magic Kingdom.
Talks with BuzzFeed reportedly happened months ago...
But as Disney CEO Bob Iger told CNBC... It is not currently in active talks with the entertainment website.
Just how will Disney continue to expand its Kingdom?
Eyes will be watching.
That wraps up this edition of the Business Daily.
I'm Sri Jegarajah, reporting from CNBC's Asian headquarters.