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Walt Disney and allies of Florida Governor Ron DeSantis reached a settlement on Wednesday to end a high-profile lawsuit in state court over control of the special district that includes the Walt Disney World theme parks.
Disney also agreed to drop a lawsuit over access to public records and defer briefings in a federal lawsuit it filed against DeSantis as the two sides try to reach a consensus on a new development agreement for Walt Disney World, among other matters.
“This agreement opens a new chapter of constructive engagement with the new leadership of the district,” Walt Disney World President Jeff Vahle said.
DeSantis and Disney, one of Florida’s biggest employers, have been embroiled in a dispute since 2022, when former Disney CEO Bob Chapek criticized a state legislative effort to limit classroom discussion of sexuality and gender issues for younger students. Critics described it as the “Don’t Say Gay” law.
A Florida board appointed by DeSantis to oversee development around Disney’s theme parks sued the company to void “backroom deals” favorable to the entertainment conglomerate.
The clash was a centerpiece of DeSantis’ speeches last year as he sought the Republican nomination for U.S. president and bashed the company as “woke Disney.”
DeSantis later limited his public attacks on the company and dropped out of the presidential race in January.
Under the terms of the settlement announced on Wednesday, Disney agreed not to challenge the oversight board’s view that the land use plan adopted by the previous board, in the waning days of its oversight of Walt Disney World, is invalid.
That would leave a plan adopted in 2020 as the working blueprint for the Orlando theme parks and retail district.
Members of the Central Florida Tourism Oversight District approved the settlement at a meeting on Wednesday.
The agreement was reached following the departures of board chairman Martin Garcia and the district’s administrator, Glen Gilzean.
“We’re eager to work with Disney and other businesses within Central Florida to make our destination known for world-class attractions and accountable governance,” Central Florida Tourism Oversight District Vice Chairman Charbel Barakat said on Wednesday.
The Florida legislature created the Reedy Creek Improvement District in 1967 to promote the development of Walt Disney World on 38.5-square miles of land.
The settlement, considered the largest in SpiceJet’s financial history, is expected to generate savings of USD 68.3 million (INR 567 Crore) for the airline, providing a substantial boost to its balance sheet and financial stability. A key aspect of the agreement involves SpiceJet acquiring complete ownership of 13 Q400 aircraft previously financed by EDC.
Disney paid taxes to that district, which provided municipal services and exempted it from some regulations.
The company’s shares were 0.4 per cent higher in afternoon trading.
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