Article Abstract:
Walt Disney Studios Chmn Joe Roth has tendered his resignation, which will become effective on Jan 14, 2000, to form an independent production company. Roth intends to use the Internet as his new firm's marketing and distribution vehicle to avoid the overhead traditionally associated with brick-and-mortar film production companies. His resignation, which is the latest of several departures by Disney executives, follows five years of Disney being the leading film studio in the US.
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Article Abstract:
American Broadcasting Compaines (ABC) Chmn Bob Iger has been appointed as president and COO of Walt Disney Co in Jan 2000. Iger will help Walt Disney CEO Michael Eisner in trying to boost the company's sales and revenue, which have been in a financial slump since 1998. Iger's bold managment style, which successfully advanced Walt Disney-owned ABC, is said to complement that of Eisner.
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Walt Disney CEO Michael Eisner's falling out with his former friend and Disney studio head Jeffrey Katzenberg could lead to undesirable consequences not only for Eisner but for the company. In his lawsuit, Katzenberg is trying to get $25 million, which he claims he is owed by the company. The suit also claims that the company inflated expenses and underreported earnings in its dealings with production partners.
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