DISNEY STUDIO CUTTING JOBS : NO WORD ON HOLLYWOOD PICTURES LAYOFFS.Byline: Michael Stroud Bloomberg Business News 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. will reduce the size of its Hollywood Pictures studio work force under the entertainment company's plan to decrease the number of films it makes. Studio President Michael Lynton, who is leaving to become chairman of Penguin books next month, wouldn't say how many jobs will be eliminated. ``There is an effort to find places for Hollywood Pictures personnel'' in other Disney divisions, Lynton said. The studio isn't expected to close, he said. Hollywood Pictures was ``extremely profitable'' the past two years, helped by such hits as this summer's ``The Rock,'' which grossed more than $128 million at the domestic box office, said Lynton. Disney, which owns the Touchstone Pictures, Walt Disney Pictures and Hollywood Pictures studios, doesn't break out earnings figures for the units. Joe Roth, who became Disney Studios chairman four months ago, said the company will cut its annual film production roughly in half to 20 to 25 films. Roth promoted Richard Cook
Richard David Cook (7 February 1957 – 25 August 2007) was a British jazz writer, magazine editor and former record company executive. , its domestic distribution and worldwide marketing chief, last week to chairman of its motion picture group. Cook will oversee Donald DeLine, president of Touchstone Pictures, and David Vogel David Vogel is the name of: David Vogel (Russian writer) (1891-1944), Russian-born Jewish poet, novelist, and diarist. David Vogel (professor) (b.1949), professor of political science and business, UC Berkeley. , president of Walt Disney Pictures. Lynton, 37, who formerly worked in Disney's 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 book publishing operation, said the Penguin job was ``a dream come true.'' The Harvard MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration will replace Peter Mayer, who announced in June that he would leave at the end of the year. Penguin's imprints include the Penguin, Viking, Dutton and Signet labels. Penguin's 1996 operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. will probably increase from last year's $52.8 million on sales of $550 million, Lynton said. |
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