Meet the New Disney Stars: Breaking News: Shanghai Disneyland project launched in Shanghai

Editor's Note: According to National Business Daily Disney is supposed to be signing the official contract with the Shanghai municipal government this Friday, i.e today.

Update: "Walt Disney Co. clinched deal with a Shanghai firm Friday, marking the launching of a much-awaited theme park project in China's largest city.

The deal was reached with Shanghai Shendi Group Co. Ltd., a company registered in August and inaugurated Friday for the development of Disney's Shanghai project.

An administrative committee was also inaugurated Friday for project management."

D&M will of course let you know as soon as more news about this highly awaited announcement will be available.