Disney to curb film spending

[Jim Sagle]

LOS ANGELES (Reuters) - Walt Disney Co. plans to scale back spending on films, although it aims to remain a Hollywood staple, according to CEO Michael Eisner and other executives.

<snip>

“We found there is no direct correlation between spending more and making more in terms of our returns," Chief Operating Officer Bob Iger said.

<snip>

Disney's Miramax division also produces films, and Iger said the focus on fewer live-action films could affect negotiations with division chiefs Bob and Harvey Weinstein. Disney has the option to extend their current contract from 2005 to 2009.

"The desire of the company long term is to invest less in live-action movies, and in order to do that, there's got to be some give here and there, and that is sort of where the rubber might meet the road in terms of any future relationship" with the Weinsteins, he said in the meeting with Deutsche Bank's Doug Mitchelson and investors, monitored via Webcast.

Full story at http://money.cnn.com/2004/06/25/news/fortune500/disney.reut/

How much more will Disney stockholders take from this dumb jagoff Mike Eisner?

[Bluebear]

1. They lost a boatload of $$$ on their stupid F9/11 decision

If I were a shareholder I would be madder than a hornet.

[AndyTiedye]

4. At What Point Does Bad Corporate Governance become Actionable Malfeasance?

Would putting one's personal politics ahead of the interests of the shareholders be enough?

[The Sushi Bandit]

2. Thanks for the info...

All us ex-disney types cant wait for Eisner to take a long walk off a short pier.

It all started to go down-hill after Wells died.

[lapfog_1]

3. What Disney forgot

is that it all starts with an animated movie...

the theme parks...

the mechandise...

the TV shows...

everything. And a good animated movie starts with a good story
and a few great characters. Disney rarely had to invent stories,
they mostly borrowed from existing thematic (but not copyrighted)
material (i.e. classic children's stories like Snow White).
Probably the Lion King was the last big hit that had carry over
"legs". And that was a long time ago.

Eisner needs to step down and let someone else re-invigorate
the studio... I think he got too caught up in other stuff, like
ABC and foreign theme parks (why build a fake fairytale castle in
a country with 100's of real ones... Euro Disney should have
concentrated on bringing mythic North America to Europe (the old
west, Adventures of Zorro, that kind of thing). Oh well.