January 12, 2010 |
Continuing to clean house and put his own team in place, Walt Disney Studios Chairman Rich Ross has ousted the studio's production chief, Oren Aviv, according to two people close to the executive. Aviv, who had been at the studio for 18 years, was president of marketing from 2000 to 2006 before taking the production job. Aviv also served as an executive producer on the studio's movie series "National Treasure" and was a close ally of former studio head Dick Cook, who was ousted by Ross last year.
January 21, 2012 |
Walt Disney Co. Chief Executive Bob Iger received nearly $31.4 million in total compensation last year, a 13.6% increase from 2010, according to a filing with the Securities and Exchange Commission. The board's compensation committee laid out the case for Iger's package, noting that 90% is tied to Disney's performance. It said the Burbank entertainment giant achieved record net income, revenue and earnings per share in fiscal 2011, and initiated a number of projects that would contribute to the company's' future growth — including expanding attractions at Disney theme parks in California, Florida and Hong Kong, and the joint venture to create a new park in Shanghai.
October 30, 2012 |
Walt Disney Co. has agreed to acquire Lucasfilm for $4.05 billion in a surprise deal that gives the media giant control of the "Star Wars" franchise. Along with the purchase, Disney announced that it plans to release a seventh live-action "Star Wars" movie in 2015. The agreement continues Chief Executive Bob Iger's strategy of growing Disney through huge acquisitions that give the Burbank company control of key pieces of intellectual property. In 2009, Disney acquired Marvel Entertainment for $4 billion, a deal that resulted in this year's hit "The Avengers.
October 31, 2012 |
Walt Disney Co.'s $4.05-billion acquisition of Lucasfilm was driven by the desire to tap into the "Star Wars" juggernaut. But the surprise deal will also give Disney other noteworthy assets, including the pioneering visual effects company Industrial Light & Magic and Skywalker Sound. ILM is considered one of the preeminent visual effects firms in the industry, known for its high-level work on the "Stars Wars," "Indiana Jones" and "Jurassic Park" movies, the "Pirates of the Caribbean" and "Iron Man" films and an upcoming "Star Trek" film from J.J. Abrams.
March 11, 2009 |
Walt Disney Co. investors, meeting at the company's annual shareholder meeting, rejected a pair of proposals that would have buried so-called golden coffin benefits for senior executives and given shareholders a say in executive compensation. Scott Adams of the American Federation of State, County and Municipal Employees Pension Plan Fund handed Disney board members a symbolic golden nail and urged them to hammer it into the company's golden coffin benefits, which provide millions in posthumous payments to the families of top executives.
February 9, 2011 |
Aggressive cost-cutting produced dividends for Walt Disney Co.'s movie studio, as its operating income jumped more than 50% on moderate revenue growth for the quarter ended Jan. 1. The Burbank entertainment giant reported a 10% increase in revenue for the first quarter to $10.7 billion and 54% growth in net income to $1.3 billion. The company's net income was also aided by one-time gains from the sale of its former Miramax film unit and other assets. Chief Financial Officer Jay Rasulo attributed the increase in Walt Disney Studios' operating income to $375 million from $243 million in large measure to a consolidation of distribution operations for theaters, DVD and digital platforms, and on television.