Okay, I've read and re-read and thought about this, specifically in relationt to the 1 to 1.5 B number.
I'm reading this as a global initiative, falling under the company-wide direction of Nick Franklin, head of global business and real-estate development. It will be a global project, consisting of infrastructure investments worldwide, and intellectual properties, as mentioned.
MacPhee heads the WDW portion, which is only a portion of the total global price tag of 1 to 1.5 billion.
Makes more sense to me that way.