The Walt Disney Company: An Uncertain New Millennium (C)
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Case Details:
Case Code : BSTA127
Case Length : 10 Pages
Period : -
Organization : -
Pub Date : 2005
Teaching Note :Not Available
Countries : California
Industry : -
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Introduction
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Michael Eisner (Eisner) looked more troubled than ever as the new millennium
approached. Many attempts to broker an out-of-court settlement with Jeffrey
Katzenberg fell apart. Finally, Disney agreed to pay Katzenberg a princely sum
of $250 million as a share of his profits from Disney hits made during
Katzenberg's time.
Disney acquired 43% of Internet search engine Infoseek for $70 million, and
together they launched the GO Network in 1999. Disney bought the remaining 57%
of Infoseek later that year and formed GO.com (later renamed Walt Disney
Internet Group), which began trading as a separate tracking stock. In early
2000, ABC chairman Robert Iger was named Disney's president and COO (and heir
apparent to Eisner).
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Increasing Concerns
In 2001, Disney expanded its theme parks in Anaheim, opening
Downtown Disney and Disney's California Adventure. It also announced a further
restructuring of its Internet business, including closing the GO.com search site
and converting its Internet tracking stock back into Disney common stock. That
year Disney formed a joint venture with Wenner Media (US Weekly LLC) and took a
50% stake in entertainment magazine US Weekly. Later, Disney bought Fox Family
Channel, which it renamed ABC Family, from News Corp. and Haim Saban for $2.9
billion in cash and assumption of $2.3 billion in debt...
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