During Disney’s 2024 Meeting of the Shareholders, Disney CEO Bob Iger called the settlement of the lawsuit against the Central Florida Tourism Oversight District a “win-win” situation, according to Deadline.
What’s Happening:
- Last week, the Central Florida Tourism Oversight District Board voted on a settlement agreement with Disney.
- As explained, this agreement states that development agreement and comprehensive plans passed by the Reedy Creek Improvement District in its final days are null and void.
- Instead, the plan passed by the CFTOD would continue, although the District will consult with Disney and all appropriate parties regarding review of and potential amendments to the plan.
- Also as part of the settlement, the claims and counterclaims in the state court lawsuit would be voluntarily dismissed with prejudice (meaning that these same claims cannot be refiled).
- Disney CEO Bob Iger commented on the settlement Wednesday, calling it a “win-win” for Disney and the CFTOD.
- Iger stated that the settlement “will actually enable us to pursue the kinds of significant investment in our Florida parks.”
- During the long and highly publicized battle with Florida Gov. Ron DeSantis, Iger previously raised some doubts about the company’s continued investments in its Florida properties.
- He also said that the investments will support “thousands of direct and indirect jobs and economic opportunity” in the state.
- A separate federal lawsuit filed by Disney against the District and Gov. DeSantis is currently being appealed after an initial ruling against the company.