Florida Republican Governor Ron DeSantis He said he would sign the bill on Monday, putting an end to it. Walt Disney Company DIS borough.
what happened: The bill would require the governor of Florida to appoint a five-member commission to govern the government services that the Disney district provides at Florida’s theme park facilities, reports The Associated Press. rice field.
“Today, the corporate empire finally comes to an end,” DeSantis said at the bill’s signing ceremony in Lake Buena Vista.
“There’s a new sheriff in town, and accountability will be the order of the day.”
DeSantis’ move is reportedly punishment for Disney’s opposition to so-called “Don’t Say Gay” laws.
Related item: How to buy Disney (DIS) stocks
Important reasons: The new law also changes the name of the district. Reedy Creek Improvement District To Central Florida Tourism Oversight Districtfocused on the press.
tampa lawyer Martin Garcia He will reportedly be chairman of the upcoming district steering committee.
Founded in 1967, Reedy Creek has over 1 billion bonds. According to the Press, the new law leaves that obligation intact.
In April, DeSantis said his push to do away with the corporate district was a “wake-up call” for the company.
The feud between DeSantis and Disney boiled over a Florida law banning teaching classes related to gender identity or sexual orientation to kindergarten through third grade students.
Price action: Disney shares closed 0.15% higher at $100.45 in regular trading on Monday and were little changed in after-hours trading, according to data from Benzinga Pro.
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