Except from Bob Iger's Q1 conference call Q&A:
"(Q&A) I have two questions. One, you haven't said anything about the Shanghai park. I was wondering if you could - if there's anything holding that up? Does it have anything to do with you starting up a Disney Channel in China? Secondly could you talk about the cost curve for ESPN over the next few years? (A) There's no news on the Shanghai park, Jessica. Since we announced that we had reached a framework agreement with the government and received the necessary approval from Beijing, our next task was to negotiate a - basically, a detailed agreement with the Shanghai government, and that process is under way. And we are not making predictions as to when it will conclude except to say that it's moving along on a timely basis. And there's no direct tie to a channel in China. "
StreetInsider.com - Highlights From DIS's Q1 Conference Call: Films Drove Strong Performance, Parks Positive Surprise, Media Down