COMPANY TOWN ANNEX

Two-Thirds of Euro Disney Banks Back Rescue Plan: The banks have accepted a financial package that will cut the debt of the cash-starved theme park outside Paris, and allow it to continue operating, an official at one of Euro Disney’s main banks said. Euro Disney, owing $3.65 billion and faced with a cash crisis due to weak consumer spending, mapped out a rescue plan last month with its U.S. parent, Burbank-based Walt Disney Co., and its 63 creditor banks. The plan includes debt payment forgiveness and deferral of principal payments that will help Euro Disney regain a firm footing. Walt Disney Co. is also making concessions, such as waiving royalty and management fees for five years and reducing their amounts in subsequent years.