You will be redirected back to your article in seconds

Woes at theme park

World Brief

Cash-strapped Spanish theme park Terra Mitica will auction off 2.3 million square feet of land in sealed bids for construction of a hotel and apartment complexes for tourists.

Opened in 2000, Terra Mitica has yet to enchant shareholders or the public. With debts of over $270 million from $150 million in cost overruns and disappointing revenues, Terra Mitica suspended payments in May 2004.

The park shed ties with its former management company, Viacom subsid Paramount Parks, at the end of last year. General manager John Fitzgerald says the auction should bring in at least $50 million.

More Biz

  • Jeremy PivenBUILD Speaker Series: Jeremy Piven,

    'Entourage' Extra Claims Jeremy Piven Assaulted Her in New Allegation

    Cash-strapped Spanish theme park Terra Mitica will auction off 2.3 million square feet of land in sealed bids for construction of a hotel and apartment complexes for tourists. Opened in 2000, Terra Mitica has yet to enchant shareholders or the public. With debts of over $270 million from $150 million in cost overruns and disappointing […]

  • This, photo shows the 21st Century

    Comcast, Disney Keep Focus on 21st Century Fox Assets Despite AT&T-Time Warner Battle

    Cash-strapped Spanish theme park Terra Mitica will auction off 2.3 million square feet of land in sealed bids for construction of a hotel and apartment complexes for tourists. Opened in 2000, Terra Mitica has yet to enchant shareholders or the public. With debts of over $270 million from $150 million in cost overruns and disappointing […]

  • Scorpion-cbs TV Show

    How Scooter Braun Turned Luck With First Series 'Scorpion' Into Prolific TV Business

    Cash-strapped Spanish theme park Terra Mitica will auction off 2.3 million square feet of land in sealed bids for construction of a hotel and apartment complexes for tourists. Opened in 2000, Terra Mitica has yet to enchant shareholders or the public. With debts of over $270 million from $150 million in cost overruns and disappointing […]

  • Peter Thiel

    Billionaire Peter Thiel Sells Majority of Facebook Stake, Pocketing $29 Million

    Cash-strapped Spanish theme park Terra Mitica will auction off 2.3 million square feet of land in sealed bids for construction of a hotel and apartment complexes for tourists. Opened in 2000, Terra Mitica has yet to enchant shareholders or the public. With debts of over $270 million from $150 million in cost overruns and disappointing […]

  • Justin Bieber Ariana Grande Kanye West

    From Ariana to Watt: Catching Up With Scooter Braun's 20 Clients as SB Projects Turns 10

    Cash-strapped Spanish theme park Terra Mitica will auction off 2.3 million square feet of land in sealed bids for construction of a hotel and apartment complexes for tourists. Opened in 2000, Terra Mitica has yet to enchant shareholders or the public. With debts of over $270 million from $150 million in cost overruns and disappointing […]

  • Scooter Braun Team

    Meet the Six Key Execs Who Help Scooter Braun Care for Roster of Clients

    Cash-strapped Spanish theme park Terra Mitica will auction off 2.3 million square feet of land in sealed bids for construction of a hotel and apartment complexes for tourists. Opened in 2000, Terra Mitica has yet to enchant shareholders or the public. With debts of over $270 million from $150 million in cost overruns and disappointing […]

  • New Media old media shakeup

    Murdoch Sale Talks Underscore Digital's Effect in Disrupting Hollywood

    Cash-strapped Spanish theme park Terra Mitica will auction off 2.3 million square feet of land in sealed bids for construction of a hotel and apartment complexes for tourists. Opened in 2000, Terra Mitica has yet to enchant shareholders or the public. With debts of over $270 million from $150 million in cost overruns and disappointing […]

More From Our Brands

Access exclusive content