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Wanda faces uphill battle as 'China's Disney' dream collapses

Property giant poised to focus on cinemas and commercial facilities

DALIAN, China -- Dalian Wanda Group has bid farewell to its theme park business, and with it the dream of becoming "China's Disney."

The Chinese property developer recently agreed to sell the operating rights to 13 theme parks to domestic peer Sunac China Holdings for 6.3 billion yuan ($909 million), in a deal that effectively pulls the plug on Wanda's theme park business.

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