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Walt Disney's Second Avatar Movie Slated For China Release Next Month

  • Walt Disney Co's (NYSE: DIS) "Avatar: The Way Of Water" will be released in China on December 16, the same day it is slated for global release.

  • "This is fantastic news for Disney, for James Cameron, and for the movie because the potential box office from China is enormous," said Paul Dergarabedian, senior media analyst at Comscore.

  • "This may be the pivotal moment that indicates that 'Way of Water' will earn enough money to justify further installments of the Avatar franchise."

  • The first Avatar movie from 2009 grossed nearly $2.9 billion worldwide, with $259 million coming from China, making it the highest-grossing movie of all time.

  • Related: New Disney CEO Bob Iger Is Cutting The Fat - And Fast. Is ESPN Next? 1 Analyst Weighs In.

  • Wall Street Journal writes that the last seven superhero films produced by Marvel Studios, Disney's most-profitable film studio over the past decade, haven't received release dates in the China market, denting the global box-office collections.

  • Disney cited the lack of a China release for "Thor: Love and Thunder," as one reason the movie underperformed at the international box office.

  • In Beijing, Chinese authorities closed an IMAX theater so that high-ranking party members could watch it at a private screening, said Richard Gelfond, CEO of IMAX Corp.

  • Before the 2009 movie, IMAX had 14 screens in China but now has 800, with 200 more contracted to be built.

  • Price Action: DIS shares are up 0.57% at $96.76 premarket on the last check Wednesday.

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