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IN BRIEF / ENTERTAINMENT

Disney Investors to Suggest Changes

September 18, 2002|James Bates

A group of dissident Walt Disney Co. investors said they will recommend corporate governance changes to directors of the Burbank entertainment giant, but declined to specify what the proposals would be.

Providence Capital said it had organized a meeting at its New York offices of 36 institutional shareholders holding from 10% to 15% of the company's shares, but declined to name any of them.

Topics included changes in Disney's bylaws, possible plans for a successor to Chief Executive Michael Eisner and the company's struggling ABC network and theme parks.

Disney directors are scheduled to meet Tuesday amid growing pressure on Eisner and the company's sagging stock price. A Disney spokesman said the company has not received any recommendations, but "we welcome any input from our shareholders."

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