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April 28, 2004

Disney Completes Acquisition of Muppets and Bear in the Big Blue House The Walt Disney Company has completed its previously announced acquisition of the "Muppets" and "Bear in the Big Blue House" properties from The Jim Henson Company, it was announced today by Michael Eisner, chief executive officer of the company. Disney has already begun integrating these characters into the company. Kermit and Miss Piggy appeared on the widely-watched inaugural episode of The Nick and Jessica Variety Show on ABC.

Details & Discussion Here Posted By: Ray @ 1:26 PM | permalink

Comcast Scraps Disney Takeover Comcast, the biggest U.S. cable television company, said Wednesday that it's scrapping its $60 billion bid for Walt Disney, effective immediately. The Philadelphia-based cable television company said it has become clear that Disney's management and board have "no interest" in putting the companies together.

Details & Discussion Here Posted By: Ray @ 7:53 AM | permalink

April 27, 2004

Statement of Disney Board After Annual Retreat The Walt Disney Company Board of Directors has concluded its annual retreat. As a result of the thorough review of Disney's long-term growth plan, the Board is confident that the management team is executing against its strategic plan in order to continue to drive long term shareholder value. The Board continues to have complete confidence in Michael Eisner, Bob Iger and the senior management team and in their strategic growth plan to continue to strengthen the company's position as the global leader in quality family entertainment. The Board, in executive session, continued its systematic assessment of both CEO and senior management succession.

Details & Discussion Here Posted By: Ray @ 10:49 PM | permalink

April 26, 2004

Disney Board to Gather, Eisner Succession on Table Finding a successor to Walt Disney Co. Chief Executive Michael Eisner is a top item on the agenda when the company's board meets next week for its most substantive discussions since shareholder unrest at the company's annual meeting in March.

Details & Discussion Here Posted By: John Yaglenski @ 10:28 AM | permalink

April 19, 2004

Disney 401K Vote 72.5% Against Eisner Nearly three-fourths of shareholders in Walt Disney Co.'s 401(k) plan cast ballots to remove Chief Executive Michael Eisner, it was revealed Monday. Dissident shareholders Roy Disney and Stanley Gold released data that showed a larger portion of 401(k) participants cast their ballots to remove the company's former chairman than the overall shareholder vote of 45.4 percent indicates. Further, 63.7 percent of 401(k) participants voted to remove George Mitchell from the Disney board. Disney officials said Fidelity Investments was responsible for most of the vote, voting in proportion to the small group of 401(k) participants who actually cast a ballot.

Details & Discussion Here Posted By: Ray @ 5:01 PM | permalink

April 17, 2004

WDW to Test Varied Extra Magic Schedule In response to guest comments, Walt Disney World theme parks will test a varied Extra Magic Hour schedule from May 9-22 to include time in both the early morning and evening. The revised schedule will give Guests eight opportunities to enjoy the Extra Magic Hour each week (one hour prior to and as many as three hours after regularly scheduled park hours). Guests staying at Disney-owned-and-operated resorts, as well as those staying at the Walt Disney World Swan and Dolphin, or the Lake Buena Vista Hilton, may enjoy both the morning and evening Extra Magic Hours at no charge with valid theme park admission. Guests staying at Shades of Green may participate in the morning offering only.

Details & Discussion Here Posted By: Ray @ 1:12 PM | permalink

April 15, 2004

Disney Testing Metal Detectors, Screening Devices Walt Disney World will be testing magnetic-style screening devices or metal detectors after hours at its theme parks, sources tell Local 6 News Thursday. Although security was increased at Disney parks after the Sept. 11 terrorist attacks, only open-bag security checks are currently performed at the entrances to theme parks. The devices would possibly screen Disney visitors like airport passengers. Security experts familiar with the story told Local 6 News that the move is a critical development in Disney's security agenda.

Details & Discussion Here Posted By: Ray @ 7:04 PM | permalink

New Tally on Eisner Vote: 45% No A new tally on the recent Walt Disney Co. shareholder vote shows percentages were slightly higher to remove Chief Executive Michael Eisner and three other board members. A total of 45.4 percent of the votes cast opted to remove Eisner, up from the previously reported 43.4 percent. The vote to remove Mitchell was revised upward from 24.1 percent to 25.7 percent. Bryson's vote climbed from 22.3 percent to 24 percent and Estrin's total rose from 23 percent to 24.4 percent.

Details & Discussion Here Posted By: Ray @ 7:02 PM | permalink

April 13, 2004

Disney to Meet With Public Pension Groups The Walt Disney Company and representatives of several state public employee pension groups will meet on May 21, a spokesman for one of the groups said Tuesday. The funds sought a meeting with Disney board members last month, but it was unclear who from the company would attend the gathering.

Details & Discussion Here Posted By: Ray @ 10:19 PM | permalink

April 12, 2004

Disney CFO Sees 2004 Earnings up More Than 40% Walt Disney Company Chief Financial Officer Tom Staggs said on Monday that earnings from continuing operations at the media giant would rise more than 40 percent in fiscal 2004 compared with last year. Staggs's forecast topped Disney previous earnings target of more than 30 percent growth, although Wall Street analysts on average are even more bullish. The forecast came after Disney's $100-million epic film "The Alamo" sold barely $9 million in tickets its opening weekend.

Details & Discussion Here Posted By: Ray @ 7:32 PM | permalink

April 07, 2004

Roy Disney and Stanley Gold to Sue to Get Voting Results Dissident Walt Disney Company shareholders Roy Disney and Stanley Gold said on Wednesday they would sue the company to get results for the March 3 shareholder vote on Chief Executive Michael Eisner's reelection to the board. Disney and Gold said the company wanted them to sign a confidentiality agreement before allowing them further access to the tallies, which they have so far refused to do. The company did not immediately comment on the latest letter from Roy Disney and Stanley Gold's attorney accusing it of trying to "delay and obfuscate" the release of voting results, particularly the employees' pension plan, which Disney and Gold see as a proxy for employee support of Eisner.

Details & Discussion Here Posted By: Ray @ 8:19 PM | permalink

Disneyland's Big Thunder Mountain Ride Under Scrutiny Again Disneyland was ordered Tuesday to retrain two employees who run the Big Thunder Mountain Railroad, which was involved in a weekend collision between two empty trains while the ride was shut down. The two trains collided at 10:40 p.m. Saturday during the restarting of the ride after it shut down when a passenger at the loading area pushed open a gate, officials said.

Details & Discussion Here Posted By: Ray @ 7:32 PM | permalink

April 06, 2004

Disney Set to Replace Chief of ABC The chairman of Walt Disney Co.'s struggling ABC network has begun negotiations to leave his post amid a broader restructuring, according to news sources on Tuesday. Lloyd Braun, who has at least two years left on his contract, would likely leave ABC by next month, when the TV networks sell the bulk of their advertising spots for the upcoming season during the "upfront" market.

Details & Discussion Here Posted By: Ray @ 8:11 AM | permalink

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