The Walt Disney Co. is ending its last major court fight with Gov. Ron DeSantis and his allies now that a new development agreement is in place, closing what may be the final chapter in a two-year political drama.

The entertainment giant dropped its federal lawsuit on Thursday, a day after DeSantis appointees green-lighted a plan that officials say will result in up to a $17 billion investment into Walt Disney World over the next 10 to 20 years.

In a court filing, the corporation’s lawyers attributed the move to the approval of the new development agreement by the DeSantis-backed Central Florida Tourism Oversight District.

The governor’s office applauded Disney’s decision to withdraw the lawsuit.

“This is another positive step as we turn the page and uphold responsible government and continue making Florida the No. 1 tourist destination for families,” said Bryan Griffin, a spokesman for the governor.

When asked about their decision to end the lawsuit, Disney officials emailed a copy of the court filing but did not comment on the legal move.

‘It’s great for Orlando’: $17B Disney World development plan gets final approval

Disney sued DeSantis, the tourism oversight district and other state officials in April 2023 and accused them of engaging in a “targeted campaign of government retaliation.”

The dispute stemmed from a 2022 law limiting classroom instruction on sexual orientation and gender identity that critics dubbed “don’t say gay.”

In a statement at the time, Disney pledged to get the law repealed or overturned in the courts, adding it was committed to “standing up for the rights and safety of LGBTQ+ members of the Disney family, as well as the LGBTQ+ community in Florida and across the country.”

DeSantis made Disney a political punching bag as he courted conservative voters in the GOP presidential primary, accusing the company of promoting the “sexualization” of children. He devoted a chapter in his book “The Courage to Be Free” to Disney, detailing how he was tackling the “The Magic Kingdom of Woke Corporatism.”

Disney CEO Bob Iger called the governor’s accusations “preposterous” and said the business was being excoriated for exercising its First Amendment rights.

As the feud escalated, DeSantis and GOP allies in the Florida Legislature seized control of the Reedy Creek Improvement District, which Disney had used for decades to essentially self-govern its Central Florida theme parks and resorts.

Lawmakers renamed Reedy Creek the Central Florida Tourism Oversight District, and DeSantis ousted the district’s five Disney loyalist board members and replaced them with Republican allies in February 2023.

The dispute then entered the courts. Disney sued in federal court and asked for the changes to be undone. Discovering binding development deals approved under the outgoing Disney-friendly leadership, the new DeSantis-aligned tourism oversight district filed a state lawsuit and asked for those agreements to be voided.

In Disney’s suit, the corporation’s lawyers blasted DeSantis, writing that the governor and his allies were “employing the machinery of the state in a coordinated campaign to damage Disney’s ability to do business in Florida.”

Disney suffered a setback in January when a federal judge dismissed its suit. Disney appealed that ruling.

Then in March, Disney and the tourism oversight district settled the state lawsuit, paving the way for a new development plan to be brokered. The district board approved that agreement Wednesday night.

The agreement includes Disney’s commitment of an $8 billion investment during the first 10 years and up to $17 billion over 20. In return, the district committed to road and other infrastructure projects to support the growth.

The agreement covers about 17,300 acres owned by Disney, according to a summary of the deal. It authorizes a maximum of five major theme parks, one more than Disney operates in Central Florida now. Disney officials have not announced the specifics of their plans.

It also allows a maximum of five minor theme parks, such as a water park, nearly 1.3 million square feet of office space, 1.7 million square feet of restaurant/retail space and 53,467 hotel rooms.

Other highlights include a $10 million commitment by Disney to fund affordable housing projects, along with a pledge to launch a “buy local initiative” with at least half of construction dollars going to Florida businesses.

Jeff Vahle, president of Walt Disney World Resort, praised the deal, saying it will support growth, fuel Florida’s economy and allow for “more memorable and extraordinary experiences for our guests.”

DeSantis officials struck a conciliatory tone, too.

“This agreement is a big win for central Florida and will lead to numerous jobs and improved guest experiences,” said Griffin, the DeSantis spokesman.