Today, London Resort Company Holdings Limited (“LRCH”) and Paramount Licensing Inc. (“Paramount”) have jointly agreed to discontinue the licence agreement for the proposed entertainment resort. This announcement does not have an effect on the timing of the planned Development Consent Order (DCO) submission for the resort in November 2017.
Humphrey Percy, CEO, LRCH, said:
“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 Development Consent Order (DCO) submission in November 2017. We are working closely with the local authorities, landowners and 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.”
“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, the resort will be a global tourist destination.”
In line with the agreement between LRCH and Paramount, the terms are confidential.