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

Walt Disney Co's 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.