Tom Staggs, senior executive vice president and chief financial officer, The Walt Disney Company (NYSE:DIS), will participate in a question-and-answer session at the Bank of America Merrill Lynch 2009 Media, Communications and Entertainment Conference on Wednesday, September 9, 2009 at 3:15 p.m. PDT / 6:15 p.m. EDT. To listen to a live Webcast of the session, please point your browser to www.disney.com/investors approximately five minutes prior to the start time. A re-play will be provided through Wednesday, September 23, 2009 at 4:00 p.m. PDT.
The investors call was short and sweet regarding the announced acquisition of Marvel Entertainment by Disney earlier this morning. With both Disney and Marvel execs on the line, Marvel remained mostly quiet as President and CEO of the Walt Disney Company Robert Iger and Disney CFO Tom Staggs held the conference call down.
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Burbank, CA and New York, NY, August 31, 2009 — Building on its strategy of delivering quality branded content to people around the world, The Walt Disney Company (NYSE:DIS) has agreed to acquire Marvel Entertainment, Inc. (NYSE:MVL) in a stock and cash transaction, the companies announced today.
Under the terms of the agreement and based on the closing price of Disney on August 28, 2009, Marvel shareholders would receive a total of $30 per share in cash plus approximately 0.745 Disney shares for each Marvel share they own. At closing, the amount of cash and stock will be adjusted if necessary so that the total value of the Disney stock issued as merger consideration based on its trading value at that time is not less than 40% of the total merger consideration.
New York/Burbank, August 27, 2009 – The Disney-ABC Television Group, Hearst Corporation and NBC Universal today announced an agreement for A&E Television Networks to acquire Lifetime Entertainment Services. The parent company will retain the name A&E Television Networks, LLC (AETN), and its subsidiary will retain the name Lifetime Entertainment Services, LLC. The closing of the transaction is subject to customary closing conditions and is expected to occur in 2009. Financial terms were not disclosed.
Abbe Raven, president and chief executive officer of AETN, will serve as head of the combined company following the closing. Raven has been recognized with numerous industry awards for building some of the most prominent brands in media including A&E Network, History and The Biography Channel, and for spinning them off into successful global franchises. Andrea Wong, president and CEO of Lifetime Entertainment Services, will continue to head the Lifetime Networks and will report to Raven following the closing. Robert DeBitetto, president and general manager, A&E Network and The Biography Channel, and Nancy Dubuc, president and general manager, History and History International, will both continue to report to Raven and run their respective networks.
The new agreement will, upon closing, consolidate three of the nation’s top cable networks under single management while preserving the distinct brand identities of each network. In addition, the combined company will be a global media content company reaching over 250 million homes worldwide in more than 140 countries around the globe. AETN will now include: A&E Network, History, Lifetime Television, Lifetime Movie Network, Bio, History International, Lifetime Real Women, History en Español, Military History and Crime & Investigation Network. Combining the resources, libraries and multiple platforms of 10 brands, including more than 20 Web sites, the new company will be well positioned to create new opportunities for expansion and cross-promotion, as well as build upon the record of success and strengths across a broad variety of audiences, platforms and programming. The combination of these businesses is also expected to yield substantial cost efficiencies.
BURBANK, Calif., August 24, 2009 – Jayne Parker has been named Executive Vice President and Chief Human Resources Officer for The Walt Disney Company (NYSE: DIS), it was announced today by Robert A. Iger, president and CEO, The Walt Disney Company. Ms. Parker will report to Mr. Iger and be responsible for areas that include leading Disney’s overall human resources strategy including global talent attraction, staffing and retention, leadership development, diversity, organizational design and cultural development, employee education and development, compensation and benefits and employee relations. The heads of human resources in Disney’s business units will report to Ms. Parker as well as to the leaders of their respective business units.
“Jayne demonstrated clear leadership and innovation while overseeing human resources, diversity and inclusion for Disney Parks and Resorts’ nearly 100,000 employees worldwide,” said. Mr. Iger. “I’m delighted that she will now apply her results-oriented practices to our entire organization in order to attract, motivate and retain experienced, knowledgeable and creative employees.”
“Disney is successful because of its people – their commitment, their creativity and their passion. I have thoroughly enjoyed my time with the Parks and Resorts division and am honored to now work on behalf of all Disney cast members and employees to continue to attract diverse talent and develop future leaders for all of our businesses,” said Ms. Parker.
LOS ANGELES, Aug. 17 — The Walt Disney Company has donated $100,000 to the American Red Cross of Greater Los Angeles in support of the organization’s Catastrophic Disaster Plan, a disaster preparedness project to feed and shelter 250,000 people following a major disaster, such as a large scale earthquake.
The Walt Disney Company’s donation aided the Red Cross in qualifying for a $1 million challenge grant. To date, the total committed donations to the Plan are nearly $5 million dollars.
The Walt Disney Company (NYSE: DIS) will announce fiscal full year and fourth quarter 2009 financial results via a live audio Webcast beginning at 4:30 p.m. EST / 1:30 p.m. PST on Thursday, November 12, 2009 (results will be released at approximately 4:01 p.m. EST / 1:01 p.m. PST). To listen to the Webcast, point your browser to www.disney.com/investors. The discussion will be available via re-play through November 26, 2009 at 7:00 p.m. EST / 4:00 p.m. PST.
LAKE BUENA VISTA, Fla., August 14, 2009 – Entrepreneur Magazine’s August issue names Orlando as one of the “Top 10 Best Cities to Start a Business” and gives kudos to the Disney Entrepreneur Center for its efforts in mentoring small-business owners and directing them to the right resources.
“We are unbelievably fortunate to have community leadership that is creative, open to partnerships, and willing to give a new idea or a new business an opportunity,” says Jerry Ross, executive director of the Disney Entrepreneur Center.
The Walt Disney Company released it’s annual report today for the 3rd Quarter of the 2009 Fiscal Year. Decreases in items such advertisers and increases in items such as promotions at the parks are reasons cited for virtually every unit of the company’s decrease in revenue for the quarter.
You can access the report directly here.
HONG KONG (Reuters) – Hong Kong on Tuesday said the Walt Disney Co will invest $452 million to expand its Hong Kong theme park, seen as necessary to bolster the park’s long-term prospects against a planned rival park in Shanghai.
Hong Kong Chief Executive Donald Tsang said Hong Kong would not invest more capital in the joint venture but would convert a substantial part of its loan to the project into equity.
After Disney’s new investment and the government’s debt to equity swap, Hong Kong will see its stake in the underperforming park fall to 52 percent from 57 percent.