Translate
27 November 2018
Genting Sues Walt Disney Co and Twenty-First Century Fox Inc for more than US$1 billion
Disney, Fox sued in US for US$1bil by Genting over Malaysia theme park
Tuesday, 27 Nov 20187:14 AM MYT
Left: The entrance to Walt Disney studios is seen in Burbank, California, U.S. Right: The flag of the Twenty-First Century Fox Inc is seen waving at the company headquarters in the Manhattan borough in New York
Walt Disney Co and Twenty-First Century Fox Inc were sued for more than US$1 billion on Monday by casino operator Genting Malaysia Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png, which accused them of abandoning a contract related to its planned construction of the first Fox-branded theme park.
Genting said "seller's remorse" induced Fox, with Disney's help, to breach its 2013 contract with Fox Entertainment Group to licence intellectual property for Fox World, a proposed addition to its Resorts World Genting complex, an hour's drive from Kuala Lumpur.
Disney did not immediately respond to requests for comment. Dan Berger, a spokesman for Twentieth Century Fox Film, one of the defendants, declined to comment.
The lawsuit was filed in the U.S. District Court in Los Angeles as Disney prepares to complete its $71.3 billion purchase of many Fox assets, expected in the first quarter of 2019.
Genting said the problems began as Fox engineered years of delays to force a renegotiation of the contract, which did not give it a share of gate sales.
But according to the complaint, Disney is now "calling the shots," and wants to end the contract because associating with a gaming company didn't fit its "family-friendly" brand strategy.
Genting said Fox issued a default notice with the hope of terminating the contract, in a manner "entirely consistent with Disney wanting to kill the deal" to benefit itself.
"Given that FEG had no right to terminate the Agreement, Fox and Disney are liable for what will exceed a billion dollars in damages attributable to the bad-faith behaviour of both Fox and Disney," the complaint said.
Genting said it had already made a "$750 million-plus investment" in Fox World. It is also seeking punitive damages.
According to the complaint, Resorts World Genting contains Malaysia's only legal land-based casino, seven hotels, shopping malls, performance venues, gondola lifts and scores of restaurants, bars and clubs. More than 23 million people visit each year, the complaint said.
The case is Genting Malaysia Bhd v Fox Entertainment Group LLC et al, U.S. District Court, Central District of California, No. 18-09866. - Reuters
Read more at https://www.thestar.com.my/business/business-news/2018/11/27/disney-fox-sued-in-us-for-$1-billion-over-malaysia-theme-park/#CX0psBzr6yhI8Vu2.99
Popular Posts - Last 7 days
-
‘Alas pintu’ dengan gambar Kaabah sebenarnya sejadah mini - AEON BiG April 13, 2024 Susulan penularan gambar yang mendakwa penjualan ‘alas ...
-
Screenshot of a video shared by the public of the incident at the Kuala Lumpur International Airport (KLIA) Arrival Hall 1 on Sunday. SEPANG...
-
MAN DIES AS HIS BMW I7 CRASHES AND BURNS, WOMAN FRIEND SERIOUSLY INJURED A man died while his woman friend was seriously injured when the ca...
-
Mohd Shuhaily said the suspect had two previous records for threats and another record for stealing and impersonating a civil servant. - BER...
-
Coach Maloney and FAM part ways after eight years Bernama Julai 13, 2022 The Football Association of Malaysia (FAM) has released under fir...
-
SUSPECT HAFIZUL HARAWI IN KLIA SHOOTING FLED IN A WHITE HONDA CITY WXU 5666 from the parking area at Level 2 of Block C, where he parked...
-
Malaysia detects 3,902 new COVID cases, 8 deaths Melissa Fernando ASTRO AWANi Julai 20, 2022 Malaysia detects 3,902 new COVID cases, 8 de...
-
The Kota Bharu Magistrate's Court here, today, allowed the suspect suspected of opening fire at the Kuala Lumpur International Airport...
-
Socso suspends RM423 million PenjanaKerjaya payments Bernama Julai 15, 2022 Socso chief executive officer Datuk Seri Dr Mohammed Azman Azi...
Popular Posts - Last 30 days
-
Saudi says application for 1444 H umrah visa opens from today Bernama Julai 14, 2022 The Ministry of Haj and Umrah of Saudi Arabia has ann...
-
Wan Saiful confirms he is no longer PTPTN chairman Bernama Julai 12, 2022 Bersatu Information chief Datuk Wan Saiful Wan Jan today confirm...
-
Kedah MB: ECK no longer part of Kulim airport project Bernama Julai 13, 2022 Muhammad Sanusi announced that the ECK Group of Companies (EC...
-
King presents appointment letters to four new envoys Bernama Julai 12, 2022 His Majesty presenting the letter of appointment to M'sian...
-
Following is BEST FBKL's selection of The Top Ramadan 2024 Buka Puasa Buffet's in Kuala Lumpur and the Klang Valley. We hope that y...
-
Naz Empire's defamation lawsuit against Awal Ashaari to go to trial as mediation fails Bernama Julai 12, 2022 The defamation lawsuit f...
-
Paris court grants Malaysia's application to suspend claims by purported heirs of Sultan Jamalul Kiram II Bernama Julai 13, 2022 Dr Wa...
-
‘Alas pintu’ dengan gambar Kaabah sebenarnya sejadah mini - AEON BiG April 13, 2024 Susulan penularan gambar yang mendakwa penjualan ‘alas ...
-
Maybank Singapore withdraws lawsuit against NFC chairman, children over housing loans Bernama Julai 12, 2022 Maybank Singapore Limited has...
Blog Archive
-
►
2023
(3771)
- December (311)
- November (322)
- October (286)
- September (288)
- August (365)
- July (349)
- June (372)
- May (316)
- April (279)
- March (301)
- February (245)
- January (337)
-
►
2022
(4309)
- December (352)
- November (422)
- October (288)
- September (281)
- August (347)
- July (303)
- June (335)
- May (406)
- April (341)
- March (371)
- February (390)
- January (473)
-
►
2021
(9030)
- December (636)
- November (647)
- October (809)
- September (797)
- August (880)
- July (894)
- June (747)
- May (780)
- April (580)
- March (629)
- February (643)
- January (988)
-
►
2020
(6800)
- December (819)
- November (698)
- October (832)
- September (729)
- August (548)
- July (558)
- June (615)
- May (394)
- April (368)
- March (453)
- February (439)
- January (347)
-
►
2019
(4089)
- December (411)
- November (425)
- October (375)
- September (279)
- August (397)
- July (353)
- June (326)
- May (315)
- April (266)
- March (318)
- February (293)
- January (331)
-
▼
2018
(4100)
- December (305)
- November (304)
- October (357)
- September (352)
- August (420)
- July (442)
- June (366)
- May (412)
- April (343)
- March (275)
- February (233)
- January (291)
-
►
2017
(3888)
- December (268)
- November (293)
- October (352)
- September (309)
- August (356)
- July (300)
- June (319)
- May (354)
- April (316)
- March (335)
- February (306)
- January (380)
-
►
2016
(4563)
- December (331)
- November (328)
- October (378)
- September (415)
- August (404)
- July (380)
- June (310)
- May (370)
- April (430)
- March (484)
- February (355)
- January (378)
-
►
2015
(4588)
- December (402)
- November (392)
- October (393)
- September (375)
- August (450)
- July (392)
- June (456)
- May (407)
- April (408)
- March (374)
- February (262)
- January (277)