DISNEY KEEPS REPUTATION AS INNOVATOR AS IT RIDES ECONOMIC ROLLER COASTER.Byline: Greg Hernandez Staff Writer BURBANK - In the 35 years since Walt Disney's death, the company that bears his name has grown to become the second-largest conglomerate in the world. Far beyond the original simple animation house, the Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. is a top motion picture studio, owner of a major television network and two professional sports The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. franchises, and hungry for other opportunities to reach new audiences in different facets of entertainment. Roy Disney Roy Disney can refer to two different people:
``The whole notion of him coming back and making a comment terrifies the hell out of me,'' Disney said, laughing. ``Lots of people ask me what he would think, and nobody has the answer to that. But what he always did when he was alive was something unexpected. He hated following his own act.'' While Disneyland has been a major attraction in the region for more than 45 years, it is only in recent decades that the Burbank-based company's media holdings became a major factor in the local economy. The movie studio, which by the 1980s had become more of a boutique operation, dramatically ramped up film production and has ranked at the top or near the top of annual domestic box office grosses for several years. Another boon to the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. came with the purchase of ABC/Capital Cities in 1995, bringing a number of network jobs from New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of to Burbank. The 100th birthday celebrations this week in honor of Walt Disney, born Dec. 5, 1901, will be a time for people to reflect on the company's accomplishments and rich history rather than its current woes, said his daughter, Diane Disney Miller. ``He's had a lot of birthdays since he died, and we've celebrated all of them,'' Miller said. ``But I feel celebrating the 100th like this means something to the company, and it's not bad to bring attention to him because he stands for something that is so good and so American.'' Disney's motion picture arm is currently riding high with the blockbuster success of the animated ``Monsters, Inc.'' which is set to cross the $200 million mark at the box office any day and has competed strongly against Warner Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) .' ``Harry Potter'' juggernaut. But the studio was left without a major holiday release when Tim Allen's planned sequel to the hit comedy ``The Santa Clause'' was postponed. Disney Chairman Michael D. Eisner said recently the movie studio is ``in incredibly good shape'' with a robust development slate, several strong production deals up and running and the elimination of deals that are no longer beneficial to the studio. The news has not been good on several other fronts for the Walt Disney Co. with net profits dropping dramatically in the last fiscal year and its stock price tumbling. The company reported $25.4 billion in revenues in 2000, but that figure has slipped this year, along with the company's stock. Disney shares hit a six-year-low $15.50 in September but have climbed back into the low- to mid-$20 range. Disney gained 21 cents Friday to close at $20.47. Eisner, who took over the reins of the company in the mid-1980s, confidently told investment analysts last month that the company would weather the storm. ``As troubling as the economic conditions are, it's important to keep in perspective that this company has been through tough times before,'' Eisner said. ``Nothing will impact the fundamental value of our assets.'' Of increasing concern is the dismal performance of ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. , which fell to a distant fourth place in key demographics and in overall viewers among major broadcast networks during the November ratings sweeps. None of the network's new fall shows have been break-out hits, and its one-time ratings monster, ``Who Wants To Be a Millionaire'' has nose-dived in popularity after airing as often as four times per week during its peak. The former No. 1 show is not even a guarantee to return as a regular series next fall. The company's Florida theme parks, which rely heavily on air travelers, have been struggling since the terrorist attacks of Sept. 11, forcing the company to lay off hundreds of workers. Anaheim's Disneyland and Disney's California Adventure Disney's California Adventure is a theme park in Anaheim, California, adjacent to Disneyland Park and part of the larger Disneyland Resort. It opened on February 8, 2001. The park is owned and operated by The Walt Disney Company. have also been slumping and have resorted to offering major discounts on admission during the holiday season. It has been an especially tough launch for California Adventure, which opened its gates in February to a lukewarm reception. Things have only gotten worse since September. ``The timing has just been horrible,'' said Paul Kim, a Kaufman Bros. analyst who follows Disney. ``Disney was very successful when it launched its Animal Kingdom theme park (in Orlando, Fla.) in 1998, but that was in a booming economy. This one couldn't have opened at a worse time.'' A third Disney theme park in Anaheim had been announced, but those plans are on hold for now. Still, experts say Disney is solid. ``Disney is a survivor,'' said Jack Kyser, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the for the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County Economic Development Corp. ``It's such an important piece of the Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, economic landscape. They have gotten hammered by the financial markets because of their exposure to television advertising and, of course, the theme parks. But the economy will come back, and ad revenue will take off again.'' Kyser said that although Disney has built larger theme parks in Florida and in countries around the world, the original ``Magic Kingdom'' remains a perennial worldwide draw. ``The real big impact is Disneyland,'' he said. ``If you look at surveys of what visitors want to see when they come to California, what's right up there is Disneyland. It has tremendous cachet cachet /ca·chet/ (ka-sha´) a disk-shaped wafer or capsule enclosing a dose of medicine. ca·chet n. An edible wafer capsule used for enclosing an unpleasant-tasting drug. because it is the original modern-day theme park.'' Turning sports teams into winners on the field and at the ticket office has proved far more daunting daunt tr.v. daunt·ed, daunt·ing, daunts To abate the courage of; discourage. See Synonyms at dismay. [Middle English daunten, from Old French danter, from Latin for Disney than producing a blockbuster movie or opening a new theme park. Disney's involvement in sports began with great promise in 1993 with the launch of the National Hockey League's Mighty Ducks
Mighty Ducks is a half-hour Disney animated series aired on ABC and The Disney Afternoon in the fall of 1996. Twenty-six episodes total were produced. , named after the popular Disney film. Three years later, Disney completed a deal to purchase the Angels baseball team from longtime owner Gene Autry and invested in a multimillion upgrade of the team's stadium in Anaheim. The Ducks, which also plays in Anaheim, has been less than mighty in its winning percentage, and attendance at the team's home games has steadily declined. There is also talk that the job of the team's general manager, Pierre Gauthier Pierre Gauthier is an ice hockey administrator in the National Hockey League. Gauthier started out in the NHL working for the Quebec Nordiques in various scouting roles from 1981 to 1993. , may be on the line. Meanwhile, the Angels have played dismally to shrinking crowds and, as recently as a few weeks ago, Disney had been in negotiations to sell the team. Those talks have since stalled and the company is likely to operate the team for at least another year. But the company presses on with new acquisitions. In October, the company finalized its purchase of the cable operator Fox Family Worldwide, which includes the Fox Family Channel, for $5.2 billion and renamed it ABC Family. All of Disney, though, is re-emphasizing family. Company executives insist it's more than hyperbole: In development at ABC are shows in the vein of the network's past hits like ``The Wonder Years,'' ``Full House'' and ``Growing Pains grow·ing pains pl.n. Pains in the limbs and joints of children or adolescents, frequently occurring at night and often attributed to rapid growth but arising from various unrelated causes. .'' ``Every time I have ever seen a problem in the entertainment business, the way out has always been strong content,'' Eisner said to analysts. ``Therefore, I am spending a lot of my time in the various areas of this company that create content.'' While Eisner admits ``some might call it meddling med·dle intr.v. med·dled, med·dling, med·dles 1. To intrude into other people's affairs or business; interfere. See Synonyms at interfere. 2. To handle something idly or ignorantly; tamper. ,'' he appears to be taking a page right out of founder Walt Disney's book. WALT'S REACH The Walt Disney Co. has its hand in many facets of entertainment. WALT'S REACH BROADCASTING ABC Family ABC Television The Disney Channel Radio Disney CONSUMER GOODS consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and The Disney Store ENTERTAINMENT Disney Books Disney Cruise Line Disney Cruise Line is owned by The Walt Disney Company and headquartered in Celebration, Florida. The business is run by President Tom McAlpin as part of the Walt Disney Parks and Resorts division. Disney on Broadway Disney on Ice Downtown Disney El Capitan Theatre Walt Disney Animation Walt Disney Home Video Walt Disney Pictures Walt Disney Television Walt Disney Television is the television production division of The Walt Disney Company with Walt Disney name. Until 1983, Disney shows were aired under the banner of the parent company, then named Walt Disney Productions. SPORTS Anaheim Angels Might Ducks of Anaheim THEME PARKS Disneyland Disneyland Paris Disney's California Adventure Tokyo Disneyland Walt Disney World Noun 1. Walt Disney World - a large amusement park established in 1971 to the southwest of Orlando Orlando - a city in central Florida; site of Walt Disney World CAPTION(S): 3 photos, box Photo: (1 -- 2) Roy E. Disney Roy Edward Disney, KCSG, (born January 10, 1930) was a longtime senior executive for The Walt Disney Company, which his father Roy Oliver Disney and his uncle Walt founded. , above, vice chairman of The Walt Disney Co. and nephew of the company's founder, stands in front of the roller coaster at Disney's California Adventure in Anaheim. One of the few bright spots for Disney this year is the success of its latest computer-animated feature ``Monsters, Inc.'' Reed Saxon/Associated Press (3) In addition to theme parks, the company has also struck gold with stage musicals such as ``The Lion King,'' left, an adaptation of the entertainment giant's hugely successful animated motion picture. Box: WALT'S REACH (see text) |
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