England: Paramount and LRCH Discontinue License Agreement
This week, London Resort Company Holdings Limited (LRCH) and Paramount Licensing Inc. announced that both companies have jointly agreed to discontinue the license agreement for the proposed London Paramount entertainment resort, which is planned to be built in the British county of Kent (c.f. EAP news from April 20th, 2017). The plans for the resort included a film-based theme park under the Paramount brand. According to a statement from both companies, the announcement will not have an effect on the timing of the planned Development Consent Order (DCO) submission for the resort in November 2017.
“We want to express our sincere thanks to the many members of the Paramount team who have worked with us since we took over the project in August 2013. This announcement does not have an effect on the timing of our planned DCO submission in November 2017. We are working closely with the local authorities, landowners and the local community, as well as our other stakeholders, and we very much look forward to showing our plans to the public as part of our final stage of consultation prior to submitting later this year,” said Humphrey Percy, CEO, LRCH. “We are creating a unique entertainment destination offering a scale and quality unprecedented in the UK where much loved characters and stories will be brought to life from iconic movies, television, books, electronic gaming and toys. Just 17 minutes from Central London, one of the most visited cities in the world and with an investment of 3.2 billion Pounds (approx. 3.6 billion Euros), the resort will be a global tourist destination,” he added. (eap)
