Walt Disney Co. has offered to raise starting pay at its Florida theme parks by 25 percent to $10 an hour over two years, almost matching the federal minimum wage sought by President Barack Obama.
Archive for Walt Disney Company
The Walt Disney Company to Webcast Investor Day at ESPN
The Walt Disney Company (NYSE: DIS) will webcast an Investor Day at ESPN on Thursday, April 17, 2014. Presentations are scheduled to begin at 12:30 p.m. EDT / 9:30 a.m. PDT and conclude by 5:30 p.m. EDT / 2:30 p.m. PDT.
To view a live webcast of the presentations, point your browser to www.disney.com/investors at least 10 minutes prior to the start of the program. The conference will be available via replay through May 1, 2014 at 5:00 p.m. EDT / 2:00 p.m. PDT.
Disney Grants Benefit Community Endeavors with $3.8 Million
Amid a cascade of confetti, a serenade of inspiration and a high-five from Mickey Mouse today, Walt Disney World Resort awarded $3.8 million in Disney Grants to dozens of community groups that will positively impact the lives of more than 85,000 Central Florida children in the coming year.
Through the support provided by this signature giving program, Disney Grants will help Central Florida organizations build brighter futures for children in a variety of ways, such as securing food and shelter for families in need, empowering students to write their stories, and kindling a love of music and the arts throughout Orange, Osceola, Seminole, Lake and Polk counties.
“We’re honored to carry on this 42-year commitment to supporting the work of Central Florida’s community organizations,” said George A. Kalogridis, president of Walt Disney World Resort. “Whether their mission is to spark kids’ creativity, nurture family health or enlighten young people with hands-on learning opportunities – today’s Disney Grants recipients share our dedication to children and families.”
During today’s ceremony at the Orlando Science Center, grant recipients came forward to receive their special Mousecar awards and were joined by children they serve. In all, 87 organizations received financial support from Disney.
Walt Disney World Resort also presented the Bob Allen Award to Page 15, an Orlando nonprofit that offers free after-school tutoring and creative writing workshops for local students. Awarded annually in recognition of a charitable organization’s creativity and outstanding work in Central Florida, the grant will be used to help Page 15 continue to boost students’ communication skills, encourage personal creativity and inspire a lifelong passion for language arts.
The Disney Grants awarded today represent contributions to organizations that receive grants, sponsorships, event support and other donations. In past years, Disney’s signature giving program focused solely on grant recipients without including the millions of dollars Walt Disney World Resort contributed to the community in other ways.
As a company with nearly 70,000 Cast Members who live and work in Central Florida, Walt Disney World Resort is committed to investing in its community. In addition to annual cash support, Walt Disney World Resort also provided more than $33 million of in-kind donations to local organizations last year, as well as more than 308,000 volunteer hours through the efforts of Disney VoluntEARS.
The Walt Disney Company Executives to Discuss Fiscal Second Quarter 2014 Financial Results via Webcast
The Walt Disney Company (NYSE: DIS) will discuss fiscal second quarter 2014 financial results via a live audio Webcast beginning at 5:00 p.m. EDT / 2:00 p.m. PDT on Tuesday, May 6, 2014.
Results will be released at approximately 4:15 p.m. EDT / 1:15 p.m. PDT.
To listen to the Webcast, point your browser to www.disney.com/investors. The discussion will be available via replay through May 20, 2014 at 5:00 p.m. EDT / 2:00 p.m. PDT.
The Walt Disney Company to Acquire Maker Studios, the Leading Network of Online Video Content
Furthering its goal of bringing content to consumers on all the platforms they prefer, The Walt Disney Company (NYSE:DIS) has agreed to acquire Maker Studios, the leading network of online video content on YouTube.
Maker Studios shareholders will receive total consideration of $500 million, and a performance-linked earn-out of up to $450 million if the strong performance targets are met.
With more than 55,000 channels, 380 million subscribers and 5.5 billion views per month on YouTube, Maker has established itself as the top online video network for Millennials.
By acquiring Maker Studios, Disney will gain advanced technology and business intelligence capability regarding consumers’ discovery and interaction with short-form online videos, including Disney content.
“Short-form online video is growing at an astonishing pace and with Maker Studios, Disney will now be at the center of this dynamic industry with an unmatched combination of advanced technology and programming expertise and capabilities,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company.
“Disney is synonymous with the best entertainment and is the ideal partner for us, strengthening our position as the leading player in online video,” said Ynon Kreiz, Executive Chairman and CEO of Maker Studios.
Maker Studios will report to Disney Chief Financial Officer Jay Rasulo. Maker Studios will remain headquartered in Culver City, Calif., with operations in New York and London.
The transaction, which is subject to regulatory clearances, is expected to close in Disney’s third fiscal quarter.
Ben Sherwood Named to Succeed Anne Sweeney as Co-Chairman, Disney Media Networks and President, Disney/ABC Television Group in February 2015
The Walt Disney Company (NYSE: DIS) today announced that ABC News President Ben Sherwood, who successfully steered ABC News to new heights over the past several years, including driving “Good Morning America” to #1, brokering a landmark partnership with Yahoo to create the #1 news and information online network, and launching Fusion, a joint venture news and lifestyle network with Univision, will assume the title of co-chairman, Disney Media Networks and president, Disney/ABC Television Group on February 1, 2015. Anne Sweeney, Co-Chair, Disney Media Networks and President, Disney/ABC Television Group will remain in that capacity through January 2015.
Effective immediately, Mr. Sherwood will begin the transition as Co-President, Disney/ABC Television Group. He will also continue to oversee ABC News until a successor is named.
Shareholders Elect All 10 Directors at The Walt Disney Company Annual Meeting
Shareholders of The Walt Disney Company (NYSE:DIS) at the 2014 Annual Meeting today elected all 10 members of the Board of Directors standing for re-election and supported Board recommendations on the Company’s auditor, the advisory vote on executive compensation, and an amendment to the Restated Certificate of Incorporation, based on preliminary results.
Disney Chairman and Chief Executive Officer Robert A. Iger welcomed shareholders to the meeting at The Keller Auditorium in Portland and introduced independent Lead Director Orin C. Smith, formerly President and Chief Executive Officer of Starbucks Corporation, and the other members of the Board of Directors.
“Fiscal 2013 was our third consecutive year of record results,” Mr. Iger told shareholders. “We increased revenue by 7% to a record $45 billion, which led to a record $6.1 billion in net income, up 8% over the year before.”
“These results drove total shareholder return of 27% for the year, compared to 20% for the S&P 500. And over the last five years, we’ve delivered total shareholder return of 113%, which is more than double the return generated by the S&P 500 for the same period,” Mr. Iger noted.
Mr. Iger also announced that the next D23 Expo, the ultimate Disney fan event, will take place August 14-16, 2015 in Anaheim, Calif.
Based on preliminary results, all Disney Directors standing for election were re-elected to the Board:
- Susan E. Arnold
- John S. Chen
- Jack Dorsey
- Robert A. Iger
- Fred H. Langhammer
- Aylwin B. Lewis
- Monica C. Lozano
- Robert W. Matschullat
- Sheryl K. Sandberg
- Orin C. Smith
Pursuant to the tenure policy in the Company’s corporate governance guidelines that limits board service to 15 years, Judith L. Estrin did not stand for re-election. “I want to thank Judy for her wise counsel, support, and friendship, and I join the entire board in expressing our sincere appreciation for Judy’s service,” Mr. Iger told shareholders. “I’d also like to take this opportunity to welcome our new board member, Jack Dorsey, who will serve as an independent director. As Chairman of Twitter and CEO of Square, Jack brings a valuable perspective to our board, especially in the technology and social media space.”
Shareholders ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent accountants for the fiscal year ending September 27, 2014. They also approved the advisory resolution on executive compensation and an amendment to the Restated Certificate of Incorporation that will provide shareholders the right to call a special meeting of stockholders.
Shareholders agreed with the Board in rejecting a shareholder proposal on acceleration of equity awards.
Final voting tallies from this year’s annual meeting are subject to certification by the Company’s inspector of elections, and will be included in the Company’s report to be filed with the Securities and Exchange Commission within the week.
Disney Unit Greenlights Disney Channel’s Largest U.K. Production To-Date
The Walt Disney Co.’s Disney Europe, Middle East & Africa (EMEA) unit has greenlit what the company said is its largest-scale ever U.K. production in the form of four-part mystery adventure Evermoor.
The Walt Disney Company to Webcast Its Annual Meeting of Shareholders
The annual meeting of shareholders of The Walt Disney Company (NYSE: DIS), including remarks by management regarding the Company, will be available live via audio webcast at www.disney.com/investors beginning at 10:00 a.m. PDT / 1:00 p.m. EDT on March 18, 2014. A replay will be provided through April 1, 2014 at 4:00 p.m. PDT.
Disney in Talks to Buy YouTube Network Maker Studios
The Walt Disney Co. is in discussions about potentially acquiring YouTube multichannel network Maker Studios, according to reports.
