March 6, 2014 |
Walt Disney Studios and Shanghai Media Group Pictures have stuck a multiyear partnership agreement to co-develop Disney-branded movies that would be released in China and other international markets. China's film business is expanding rapidly. Last year, its total box office take topped $3.6 billion, up about 27% from 2012. According to Motion Picture Assn. of America data, the country is the world's second-biggest movie market behind the United States. Under terms of the deal, Disney Studios, a unit of Burbank-based Walt Disney Co., would pair U.S.-based writers with writers and filmmakers in China to collaborate on movie projects.
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.