Disney May Be Buying Twitter After All

As reported late last night by Investor’s Business Daily:

Twitter (TWTR) shares rose late after a report that Walt Disney (DIS) is once again interested in buying the struggling social network.

The website Betaville reported, citing sources, that Twitter and Disney are “thrashing out a deal” after agreeing on a price “thought to be in the high 20s per share” late last week.

Later, Benzinga, citing a source “familiar” with the matter, downplayed the “chatter” and questioned the source.

Twitter shares rose 3.2% to 17.82 in late trading on the stock market today. But that followed the 4.3% regular-session decline to 17.26 amid a report of big job cuts this week. Twitter rose as high as as 25.25 on Oct. 5, the best since December 2015, amid  speculation that Disney, Google parent Alphabet (GOOGL), Salesforce.com (CRM) and even, by some accounts, Apple (AAPL), might make a bid for Twitter. But they all appeared to drop out, with Disney apparently wary of the caustic comments and abuse by Twitter trolls.

Yet Disney CEO Bob Iger has made no secret of his desire to boost Disney’s digital distribution channels.

BREAKING: Bob Iger’s Heir Apparent, Tom Staggs to Leave Disney Company

From the Hollywood Reporter:

TomStaggsCOO

Thomas Staggs, named the chief operating officer at Disney last February, is unexpectedly stepping down from the role, the company said Monday.

“Tom has been a great friend and trusted colleague for more than 20 years,” said CEO Bob Iger in a statement. “He’s made important contributions to this company, earning wide respect across the organization for his achievements and personal integrity. I’m proud of what we’ve accomplished together, immensely grateful for the privilege of working with him, and confident that he will be enormously successful in whatever opportunity he chooses.”

“Disney truly stands alone, not only because of the company’s phenomenal creativity, but also because of the thousands of remarkable people who make it such an extraordinary place,” said Staggs in a statement. “It’s been a privilege to work with them and be inspired by their creativity and commitment. It’s also been a great experience to work with Bob during this dynamic era of unprecedented growth and transformation. I remain grateful for that opportunity, and I’m confident that Disney’s future will be just as exciting as its legendary past.”

Vote In The “Oh My Disney Awards” Until February 26

Leading up to the Academy awards, Disney fans get to vote about what they care about in the inaugural Oh My Disney Awards!

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This awards season, fan voices will be heard on the moments they find funny, romantic, and memorable.

Voting opened Wednesday, February 17 and will end on Friday, February 26, culminating the announcement of the winners on Awards Day, Saturday, February 27.

Be sure to go cast your votes!

Bruce Vaughn Departing Walt Disney Imagineering, Bob Weis Named President of WDI

Bruce Vaughn has decided to leave Walt Disney Imagineering, leading Disney to name Bob Weis president of Walt Disney Imagineering.

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Weis at the 2015 D23 Expo

In addition, Anthony Connelly will join WDI from Disney Cruise Line and take on the role of Executive Vice President, WDI Business Operations and Project Delivery. Anthony brings 26 years of Disney experience in a variety of leadership positions.

The changes create an interesting dynamic for WDI, with Bob Weis acting as a creative leader and Connelly overseeing the financial and construction management aspects of WDI.

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The Iron Man Experience will be the very first MARVEL ride built by Disney

Though previously announced, a big part of the streamlined Walt Disney Imagineering relies heavily on franchise leaders, with Scott Trowbridge leading Star Wars and Joe Rhode leading MARVEL projects.

Overall these changes should be positive for Disney fans, returning a lot of the decision making power to the creative side of Walt Disney Imagineering once projects are approved. Here’s how the new corporate structure at WDI will work:

Reporting to Bob Weis:

  • Franchise Leaders –
    • Scott Trowbridge (Star Wars)
    • Joe Rohde (Marvel)
  • Creative Leaders –
    • Tom Fitzgerald
    • Daniel Jue
    • Joe Lanzisero
    • Zsolt Hormay
  • Creative Entertainment Leaders –
    • Matt Almos
    • Kevin Eld
    • Dana Harrel
    • Michael Jung
    • Jon Snoddy who will continue to lead WDI R&D including Disney Research
    • Patti Burke who will lead the newly created WDI Centers of Excellence
    • Chris Kubsch, Show Studio Leader, will add oversight of the Entertainment Design and Delivery Studio reporting to Patti Burke

Reporting to Anthony:

  • Craig Russell – as referenced above
  • Regional Leaders –
    • Kathy Mangum (WDW, DCL, DLP)
    • Howard Brown (Asia)
    • TBD (DLR/Aulani)
    • Daniel Carney – Environmental Design & Engineering Studio Executive
    • Mark Mesko – Ride Engineering Studio Executive
    • Michael Cawlina – Construction Management Studio Executive
    • Zach Riddley – Strategic Menu Planning and Project Development Executive
    • Justin Newton, leader of Project Management and Project Controls will report to Zach Riddley
    • Strategic Park Menu Planning, also under Zach, will dual report to Bob Weis

Tom Staggs Named Chief Operating Officer of The Walt Disney Company

Earlier today, Robert Iger announced the promotion of Tom Staggs as the new Chief Operating Officer (COO) of The Walt Disney Company. Below is the official press release released by Disney announcing the promotion.

Thomas O. Staggs has been named Chief Operating Officer of The Walt Disney Company, it was announced today by Robert A. Iger, Chairman and Chief Executive Officer.

A 25-year Disney veteran, Mr. Staggs is Chairman, Walt Disney Parks and Resorts, overseeing the strategy, operations and creative development of the company’s iconic travel and leisure businesses. He will assume the role of Chief Operating Officer immediately, while continuing to lead Parks and Resorts until a successor is named. Disney’s senior management team, including all business segment leaders, will report jointly to Mr. Iger and Mr. Staggs, with the exception of the Chief Financial Officer, General Counsel, Chief Communications Officer and Chief Human Resources Officer, who will continue to report directly to Mr. Iger.

“Tom is an incredibly experienced, talented and versatile executive who has led Parks and Resorts during a time of unprecedented growth and expansion, including the construction of Shanghai Disney Resort. His proven ability to lead a business as well as his successful tenure as Disney’s former CFO make him an ideal Chief Operating Officer, expanding his portfolio into all the company’s businesses,” Mr. Iger said.

“It’s a privilege to step into this role, and I am humbled and honored by the opportunity. I look forward to working more closely with Bob and the talented senior management team across the company to continue to build Disney’s future through unparalleled creativity, innovative technology and global expansion,” Mr. Staggs said.

Since 2010, Mr. Staggs has led Parks and Resorts’ global team of more than 130,000 Cast Members, Crew Members and Imagineers, with the segment delivering record revenue, profit and attendance levels. In addition to overseeing the development of Shanghai Disney Resort, and a new Avatar-themed land at Disney’s Animal Kingdom Park, during Tom’s tenure, Disney has launched two new cruise ships; opened Aulani, a Disney Resort & Spa, in Hawai‘i; added three new lands at Hong Kong Disneyland; doubled the size of Fantasyland at the Magic Kingdom; and completed a multi-year expansion of the Disneyland Resort with the addition of Cars Land and Buena Vista Street at Disney California Adventure Park.

Prior to that, Mr. Staggs served as Senior Executive Vice President and Chief Financial Officer of The Walt Disney Company. He played a critical role in the execution of the acquisitions of Capital Cities/ABC, Pixar Animation Studios and Marvel Entertainment. As CFO for twelve years, he spearheaded the realignment of Disney’s performance goals toward the combination of profit growth and strong long-term capital returns and free cash flow. He has been praised by Wall Street for his financial and communications skills, and was consistently voted the entertainment industry’s No. 1 CFO by Institutional Investor magazine.

Mr. Staggs joined Disney in 1990 as Manager of Strategic Planning and quickly advanced through a series of positions of increased responsibility, leading to his appointment as Chief Financial Officer in 1998. Before joining Disney, he worked in investment banking at Morgan Stanley & Co.

Michael Eisner – Was He Robin Williams’ Genie?

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“When he shall die,
Take him and cut him out in little stars,
And he will make the face of heaven so fine
That all the world will be in love with night
And pay no worship to the garish sun.”

William Shakespeare – Romeo and Juliet

As the world learned of the passing of comedian/actor Robin Williams, Disney CEO, Bob Iger (with Animator Eric Goldberg), posted a beautiful image of the Genie from “Aladdin,” made of stars in the night sky, with thoughtful words commemorating his life. During his early career, and his years of greatest success, another Disney executive always seemed to be looking for opportunities for him, and for Disney. This partnership inextricably linked Williams with The Walt Disney Company, at least in the public’s mind, more than any other studio. That executive was Michael Eisner.

If their story was a buddy film it could be called: “The Road To Superstardom.”

The two future Disney Legends began their symbiotic relationship when Eisner took early interest in Williams’ career from the time of his TV breakout role on “Mork and Mindy” in 1978. Eisner was then running Paramount Pictures, the producer of the series for ABC at the time. The show was a hit and catapulted Williams to the stature of a “household name.” But in 1980, even before the series had ended, Michael, still at Paramount at this time, had plans for Robin that involved the Big Screen.

Eisner and all of Paramount, were disappointed at losing the opportunity to produce the film version of  the Broadway musical “Annie.” So the studio searched for another comic-book property to film. The result was “Popeye,” directed by legendary director Robert Altman. Michael could easily ask, “who more than Robin seemed to be a flesh and blood cartoon character?”

Mainly to expedite the creation of the location sets, “Popeye” even became a co-production with what was then called Walt Disney Productions under CEO, and the late Walt Disney’s son-in-law, Ron Miller. The film, which had a very loose story line, was generally appreciated by critics, but was not a success with the public.

Williams’ next two films ‘The World According to Garp’ (1982) and ‘Moscow on the Hudson’ (1984) were done for Warners and Columbia respectively, but change for Disney was in the wind.

In 1984, Eisner and former entertainment lawyer and Warner Bros executive Frank Wells made the move to Disney. While it took some time for them to get Williams’ “oars in the water,” they fairly soon were able to do just that.

In 1987, in his first Disney produced film, Williams got to work “in his wheelhouse” playing an irrepressible Armed Forces Radio DJ in “Good Morning Vietnam.” He followed in 1989 with “Dead Poets Society,” a more serious role as an unorthodox English teacher who inspires his students in a buttoned down academy. Both films were released by Disney’s Touchstone Pictures and both pictures earned Williams Academy Award nominations.

When important events arose for Disney Williams was generally recruited to be a part what ever was going on. So when Eisner wanted star power for two new theme park attractions he looked no farther than his old friend.

Robin Williams as the Time Keeper

One show was for the new Disney/MGM Studios and the other for the opening of the Euro Disney Resort. The Studio Tour attraction was part of “The Art of Disney Animation” pavilion in which the comedian led guests through the animation process via video screens and a film titled “Back To Neverland.” Williams starred with fabled newsman Walter Cronkite. America’s Most Trusted Man turned out to be a good straight-man for Williams, who plays a tourist turned into an animated Lost Boy from Peter Pan. In the other show for what later became known as Disneyland Paris, he voiced the lead character “Timekeeper ” in the time-traveling attraction “Le Visionarium: Un Voyage à Travers le Temps”. That show opened the new resort in Paris, and was eventually exported to Tokyo Disneyland and the Magic Kingdom at Walt Disney World Resort with the name “Timekeeper.”

His next release, though not a Disney product, cemented Williams’ ability to “open” a family event film. Steven Spielberg actually began developing “Hook” (1991) as a co-production between Paramount and Walt Disney Productions in the early 80s, but by 1985 he abandoned the project. In 1989, Spielberg returned to the project as the director, picking Williams as Peter Pan, Julia Roberts to play Tinker Bell and Dustin Hoffman as the titular character. So, in this case, even when Williams made a high-profile film for another studio, due to the subject matter, it was perceived by many as a Disney film. Critics paned it. Ticket sales were good, but lower than expected.

This set the stage for what was to be arguably Williams’ most remembered role of all – that of the Genie in the animated feature “Aladdin” (1992). The combination of Williams’ rapid-fire, stream of conscience delivery and animator Eric Goldberg’s sinewy animation, in the style of caricaturist Al Hirschfeld, was unlike anything seen before or since.

Williams did the film’s voice work for $500-a-day, in gratitude for Eisner’s green-lighting Dead Poets Society the small “art film” that payed dividends to Disney and to Williams’ career. Eisner reciprocated by buying Williams a Picasso.

Aladdin, where Williams voiced the Genie, is still one of the top performing animated films of all time. It still has a presence in Disney Theme Parks and has recently spawned a hit show on Broadway.

With the beloved film Mrs. Doubtfire (1993) for 20th Century Fox, Williams proved he could still bring in the families and still touch hearts with his unique comedic style. He also acted as a producer on the picture, which was filmed near his home in Northern California.

In 1997 Williams did two last films for Disney. The first, a big budget remake of Walt Disney’s “The Absent Minded Professor” (1961), this time titled “Flubber” (1997). The film, produced and co-written by John Hughes, was a comedy and special effects showcase and performed well for the company. Critics were not impressed.

The other film , the drama “Good Will Hunting,” would gain him great critical aclaim, and finally, the Oscar for Best Supporting Actor.  Williams played a psychologist who helps a janitor at M.I.T. who has a gift for mathematics, but needs to find direction in his life. This film was also generally the public’s introduction to another set of film world buddies: Ben Affleck and Matt Damon.

Williams continued giving voice to animated characters and playing in popular live-action franchises until the end of his life. He also along the way played darker characters in several films to much acclaim. At the time of his death, stories were circulating in media about the possibility of a “Mrs. Doubtfire” sequel.

Michael Eisner resigned from The Walt Disney Company on September 30, 2005.

Robin Williams Died August 11, 2014 Tiburon, California

 

Is Disney looking to buy Warner Brothers?

Is Disney looking to buy Warner Brothers?

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Recently it was announced that the head of FOX, Rupert Murdoch, tried to purchase Time Warner Brothers Studios for $80 billion. Warner Brothers did not feel that was an adequate amount and Murdoch withdrew his takeover bid. For most people, this came as a surprise that a possible merger was even in the works. According to the Hollywood Reporter, Warner Brothers is still ripe for a possible takeover bid. The current leader is China’s wealthiest man, Wang Jianlin. If Wang’s takeover bid does not come to fruition, according to The Hollywood Reporter, the 3 possible strongest candidates are Disney, Google and Apple. Disney’s market cap is currently worth $149 billion, Google’s market cap is $385 billion and Apples’ market cap is $567 billion. Disney does seem like the low man on the totem poll compered to the other potential candidates, but with $149 billion the possible merger is still a possibility. Remember a few years ago, no one believed that Lucasfilm could be purchased by any company. I am sure a merger of this magnitude would still have to meet hurdles dealing with the Federal Trade Commission and the Securities And Exchange Commission. If a merger like this did go through for Disney and Warner, it would mean that Disney would acquire the likes of the Harry Potter series, The Lord Of The Rings films, DC Comics and all of their movies, classic Warner Brothers cartoons, such as Bugs Bunny, and The Wizard Of Oz.

MickeyWithBugs

The Walt Disney Company Executives to Discuss Fiscal First Quarter of 2013 Financial Results via Webcast.

The Walt Disney Company Released:

 BURBANK, Calif., January 8, 2013 – The Walt Disney Company (NYSE: DIS) will discuss fiscal first quarter 2013 financial results via a live audio Webcast beginning at 5:00 p.m. EST / 2:00 p.m. PST on Tuesday, February 5, 2013.

Results will be released at approximately 4:15 p.m. EST / 1:15 p.m. PST.

To listen to the Webcast, point your browser to www.disney.com/investors. The discussion will be available via replay through February 19, 2013 at 5:00 p.m. EST / 2:00 p.m. PST.

 

Disney and the Rose Parade: A 75-Year Tradition Continues

By Erin Glover on Disney Parks Blog:

We’ve been showing you updates on the construction of the “Destination: Cars Land” float which will appear in the 124th Rose Parade on New Year’s Day in Pasadena, Calif., here on the Disney Parks Blog. We’re really excited about this year’s Disneyland Resort float – not only is it a tribute to the all-new Cars Land, but it also continues a 75-year tradition of Disney involvement with the annual Rose Parade in Pasadena. Disney’s relationship with the Tournament of Roses began in 1938 when characters from the newly premiered “Snow White and the Seven Dwarfs” were prominently featured in the parade. And of course, the Rose Queen and her Court, along with the competing Rose Bowl football teams, have visited Disneyland Resort each year since 1960 (be sure to check back here on December 26 for photos from this year’s visit).

Walt Disney and Mickey Mouse at the Tournament of Roses Parade
In 1966, Walt Disney served as Grand Marshall of the Rose Parade. Later, Roy E. Disney, Walt’s nephew and the head of Disney Animation, would serve as Grand Marshall in 2000. Members of the creative teams at Walt Disney Imagineering and Disney Entertainment have served as float judges numerous times throughout the years.

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In 2004, Disneyland Resort presented “A Sudden Drop in Pitch,” the tallest float in Rose Parade history at 110 feet, featuring live performers dangling in a elevator attached to the top. The float’s title played off that year’s theme of “Music, Music, Music,” and the float was inspired by The Twilight Zone Tower of Terror attraction, which opened in Disney California Adventure park that spring.

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The 50th Anniversary of Disneyland was celebrated in 2005 with both a dazzling Rose Parade Opening Show and a spectacular castle float titled “The Happiest Celebration on Earth.” That year’s Rose Parade also featured Mickey Mouse as Grand Marshall.

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Disney broke another Rose Parade record In 2006, with the longest float (150 feet) at the time in Rose Parade history. Titled “The Most Magical Celebration on Earth,” the float celebrated Disney Parks around the world.

Be sure to tune in for the 124th Rose Parade on January 1, 2013, on ABC-TV to see the latest in a long line of Disney-inspired floats!

BREAKING: The Walt Disney Company Acquires Lucasfilm

I am in shock as I write this, but Disney is going to acquire Lucasfilm, Star Wars and all…

Burbank, CA and San Francisco, CA, October 30, 2012 – Continuing its strategy of delivering exceptional creative content to audiences around the world, The Walt Disney Company (NYSE: DIS) has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.

Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments.

“Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas,” said Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company. “This transaction combines a world-class portfolio of content including Star Wars, one of the greatest family entertainment franchises of all time, with Disney’s unique and unparalleled creativity across multiple platforms, businesses, and markets to generate sustained growth and drive significant long-term value.”

“For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next,” said George Lucas, Chairman and Chief Executive Officer of Lucasfilm. “It’s now time for me to pass Star Wars on to a new generation of filmmakers. I’ve always believed that Star Wars could live beyond me, and I thought it was important to set up the transition during my lifetime. I’m confident that with Lucasfilm under the leadership of Kathleen Kennedy, and having a new home within the Disney organization, Star Wars will certainly live on and flourish for many generations to come. Disney’s reach and experience give Lucasfilm the opportunity to blaze new trails in film, television, interactive media, theme parks, live entertainment, and consumer products.”

Under the deal, Disney will acquire ownership of Lucasfilm, a leader in entertainment, innovation and technology, including its massively popular and “evergreen” Star Warsfranchise and its operating businesses in live action film production, consumer products, animation, visual effects, and audio post production. Disney will also acquire the substantial portfolio of cutting-edge entertainment technologies that have kept audiences enthralled for many years. Lucasfilm, headquartered in San Francisco, operates under the names Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound, and the present intent is for Lucasfilm employees to remain in their current locations.

Kathleen Kennedy, current Co-Chairman of Lucasfilm, will become President of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn. Additionally she will serve as the brand manager for Star Wars, working directly with Disney’s global lines of business to build, further integrate, and maximize the value of this global franchise. Ms. Kennedy will serve as executive producer on new Star Wars feature films, with George Lucas serving as creative consultant. Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars saga and grow the franchise well into the future.

The acquisition combines two highly compatible family entertainment brands, and strengthens the long-standing beneficial relationship between them that already includes successful integration of Star Wars content into Disney theme parks in Anaheim, Orlando, Paris and Tokyo.

Driven by a tremendously talented creative team, Lucasfilm’s legendary Star Warsfranchise has flourished for more than 35 years, and offers a virtually limitless universe of characters and stories to drive continued feature film releases and franchise growth over the long term. Star Wars resonates with consumers around the world and creates extensive opportunities for Disney to deliver the content across its diverse portfolio of businesses including movies, television, consumer products, games and theme parks. Star Wars feature films have earned a total of $4.4 billion in global box to date, and continued global demand has made Star Wars one of the world’s top product brands, and Lucasfilm a leading product licensor in the United States in 2011. The franchise provides a sustainable source of high quality, branded content with global appeal and is well suited for new business models including digital platforms, putting the acquisition in strong alignment with Disney’s strategic priorities for continued long-term growth.

The Lucasfilm acquisition follows Disney’s very successful acquisitions of Pixar and Marvel, which demonstrated the company’s unique ability to fully develop and expand the financial potential of high quality creative content with compelling characters and storytelling through the application of innovative technology and multiplatform distribution on a truly global basis to create maximum value. Adding Lucasfilm to Disney’s portfolio of world class brands significantly enhances the company’s ability to serve consumers with a broad variety of the world’s highest-quality content and to create additional long-term value for our shareholders.

The Boards of Directors of Disney and Lucasfilm have approved the transaction, which is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, certain non-United States merger control regulations, and other customary closing conditions. The agreement has been approved by the sole shareholder of Lucasfilm.