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Dollar Tree sells Family Dollar to private equity firms after a decade of trying to find a fit

Dollar Tree sells Family Dollar to private equity firms after a decade of trying to find a fit

By MICHELLE CHAPMAN, Associated Press Business Writer

Dollar Tree is selling Family Dollar to a pair of private equity firms for $1 billion after a decade of trying to make its acquisition of the bargain chain fit.

Dollar Tree Inc. acquired Family Dollar for more than $8 billion in 2015 after a bidding war with rival Dollar General.

Neil Saunders, managing director of GlobalData, said that after acquiring the rival chain, Dollar Tree struggled with supply chain issues, poor store locations and other operational difficulties.

“Basically, Dollar Tree bit off far more than it could chew,” he said.

Last year Dollar Tree announced that it planned to close hundreds of Family Dollar stores.

Dollar Tree had been scouting options for Family Dollar for a while and said Wednesday that the sale to Brigade Capital Management and Macellum Capital Management will allow it to focus on its core business.

“This is a major milestone in our multiyear transformation journey to help us fully achieve our potential,” said Mike Creedon, who was made permanent chief executive officer of Dollar Tree late last year. read more

Disney to shut down Buzz Lightyear ride and give it a new spin

Disney to shut down Buzz Lightyear ride and give it a new spin

Magic Kingdom’s Buzz Lightyear ride will be updated and enhanced, Walt Disney World officials say.

The changes for Buzz Lightyear’s Space Ranger Spin attraction will include new ride vehicles with video monitors for scoring updates and handheld blasters that fire color-coordinated beams. The attraction’s current targets will be upgraded to react after being hit by passengers.

“The blasters will be more reactive,” Michael Hundgen, creative portfolio executive producer with Walt Disney Imagineering, said during a program for media members Tuesday.

“The targets will light up. So, you know ‘Oh, I just shot that one with my colored blaster,’ so that it’s very clear that you’re either winning or losing terribly,” Hundgen said.

Disney: 2 Hollywood Studios shows to debut on same day in May

The Tomorrowland ride also will sport a new character, a robot named Buddy.

“Buddy will be your sort of trainer right in the beginning, so you can learn how to use the blaster,” Hundgen said. read more

Among new Disney World ticket deals: Kids go for half-price

Among new Disney World ticket deals: Kids go for half-price

Walt Disney World is rolling out a couple of deals on theme park tickets, including one that’s half-price for kids. The offers cover the bulk of the summertime travel season.

The 50% Off on Kids Tickets offer is for ages 3 to 9, and it’s 50% off when a three-day ticket (or longer) is purchased. Disney World park ticket prices vary with the date, and the visits must be between May 27 and Sept. 20.

Disney to shut down Buzz Lightyear and give it a new spin

The 3-Day, 3-Park Ticket is unusual for Disney because it is not valid for admission to Magic Kingdom. For three days, the price is $267 — $89 per day — and it’s one park per day, good at Epcot, Disney’s Hollywood Studios and Disney’s Animal Kingdom. It’s in effect between April 6 and Sept. 22.

And the Free Dining Plan Deal is back as part of a four-night (or longer) package at select Disney hotels and includes a park ticket with park-hopping powers. This offer is good on select dates between June 29 and Dec. 22.

Purchases can be made starting March 27. For more details, go to disneyworld.com/offers. read more

Disney: Villains, ‘Mermaid’ shows will debut on same day in May

Disney: Villains, ‘Mermaid’ shows will debut on same day in May

Two stage shows set for Disney’s Hollywood Studios theme park now have opening dates. Both “The Little Mermaid — A Musical Adventure” and “Disney Villains: Unfairly Ever After” will debut May 27, the day after Memorial Day.

‘The Little Mermaid – A Musical Adventure’ is set to debut at Disney’s Hollywood Studios on May 27. (Courtesy Walt Disney Co.)

The “Mermaid” show essentially replaces “Voyage of the Little Mermaid,” although the latter had been shut down since March 2020 and the beginning of the pandemic shutdown.  In December 2023, the new production was announced with a targeted opening date of 2024. The theater, located in the park’s Animation Courtyard, was to be refreshed for the updated show.

Last summer, Walt Disney World said the new show would have live performers, puppets and all-new sets. It was also touted to begin with a new “Daughters of Triton” production number.

Disney to shut down Buzz Lightyear and give it a new spin

Disney World also features Under the Sea – Journey of the Little Mermaid, a dark ride at Magic Kingdom.

The villains show was announced in September 2024. It will be staged in the Sunset Showcase building that formerly housed “Lightning McQueen’s Racing Academy,” a “Cars”-inspired show in the shadow of the Tower of Terror attraction.  It was said to feature Cruella de Vil, Captain Hook, Maleficent and others as well as Magic Mirror mojo. read more

Senate panel advances condo bill seeking more financial flexibility for ‘milestone inspections’

Senate panel advances condo bill seeking more financial flexibility for ‘milestone inspections’

TALLAHASSEE — A key Senate committee Tuesday gave initial approval to a measure that would build on laws requiring safety inspections of older condominium buildings and adequate financial reserves for repairs.

The bill (SB 1742) is aimed at “providing condo owners a smoother, more flexible financial path forward without compromising safety,” Senate Regulated Industries Chairwoman Jennifer Bradley, R-Fleming Island, said before her committee unanimously approved the measure.

The laws were enacted in response to the 2021 collapse of the Champlain Towers South condominium building in Surfside that killed 98 people.

The laws, initially passed in 2022 and tweaked in 2023, require “milestone inspections” of older buildings and “structural integrity reserve” studies to determine how much money should be set aside for future major repairs.

Milestone inspections were supposed to be completed by Dec. 31 for certain older buildings that are three stories or higher. Some condo associations hit owners with large assessments in the race to comply with the deadline. Assessments are in addition to homeowners’ regular association fees. read more