Dalian Wanda deal: Why is China's 'Disney rival' being sold?

Three Chinese theme parks, intended to compete with US giant Disney's ventures in the country, are being sold. The operations are among businesses being offloaded by conglomerate Dalian Wanda in one of China's biggest ever property deals. Dalian Wanda has not explained its thinking behind the sale, but the firm is heavily in debt. Dalian Wanda said it was selling 91% of 13 tourism projects, which are typically made up of theme parks and leisure complexes. To compete, Dalian Wanda had adopted a strategy of going for a smaller, cheaper parks in many more places.

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