March 6, 2014 |
Disney Interactive, the struggling video game and digital media subsidiary of Walt Disney Co., is cutting roughly 700 jobs worldwide, the company said Thursday. The division is closing offices in Chicago, New Jersey, Colorado, South Korea and Hyderabad, India. The layoffs represent about 26% of the division's workforce. Disney Interactive said in a statement that it "has consolidated several lines of business as part of an effort to focus the division on a streamlined suite of high quality digital products.
February 5, 2014 |
Walt Disney Co. reported a 33% increase in net income for its fiscal first quarter, lifted in part by the performance of its hit movies "Frozen" and "Thor: The Dark World. " The Burbank company posted net income of $1.84 billion for the quarter that ended Dec. 28, up from $1.38 billion a year earlier. Revenue rose 9% to $12.31 billion. Disney, the world's largest entertainment and media company, posted earnings of $1.03 a share, up from 77 cents a year earlier. That exceeded the expectations of analysts, who had predicted earnings of 91 cents a share, according to investment research firm Zacks.
February 3, 2014 |
Disney Interactive, the struggling video game and digital media subsidiary of the Walt Disney Co., is expected to begin a round of layoffs, according to a source with knowledge of the matter. The cuts could come as soon as this week. Disney Interactive, which lost more than $200 million a year between 2008 and 2012, is in a period of transition. The division parted ways with its Co-president John Pleasants in November, just months after the successful launch of its "Disney Infinity" video game. The Wall Street Journal, which first reported news of the layoffs, said Disney Interactive would lay off "several hundred people.
May 6, 2013 |
The Walt Disney Co. and Electronic Arts Inc. have inked a licensing deal that will see the video game developer make and publish new "Star Wars" games, the companies said Monday afternoon. Under the exclusive, multi-year agreement, Electronic Arts will develop titles for "all interactive platforms and the most popular game genres" related to "Star Wars. " Disney retains certain rights to develop games for mobile, social, tablet and online platforms, the companies said. The announcement comes a little more than a month after Disney's Lucasfilm Ltd. subsidiary, which is responsible for the "Star Wars" franchise, said it would no longer make video games.
January 29, 2013 |
Walt Disney Co.'s video game division laid off about 50 staffers Tuesday from several locations on the same day that it closed the Austin, Texas, studio that produced its "Epic Mickey" titles. The layoffs were separate from the people who lost their jobs at Austin-based Junction Point, according to a knowledgeable person not authorized to discuss the matter publicly. Disney's Interactive Media unit, which also includes online content, has shed jobs recently as it attempts to meet Chief Executive Robert Iger's publicly stated goal of achieving profitability in its current fiscal year.
October 17, 2012 |
Club Penguin founder Lane Merrifield is leaving Walt Disney Interactive two years after a reorganization put him in charge of the entertainment giant's online virtual worlds strategy. He is being replaced by a well-regarded Disney veteran of 10 years, Chris Heatherly, according to a person knowledgeable of the changes who is not authorized to discuss the matter publicly. Heatherly originally designed toys for the company before moving to its digital games division. Merrifield joined Disney in 2007 after its $350-million acquisition of Club Penguin, which pioneered the once popular business of virtual worlds for children -- many of whom spent their parents' money buying digital items.