Disney Looks To New Films Without Pixar, Weinsteins
By DWIGHT OESTRICHER
February 11, 2005 4:12 p.m.
Of DOW JONES NEWSWIRES
NEW YORK -- Walt Disney Co.'s (DIS) Chief Executive Michael Eisner doesn't seem fazed that the company was about to lose its partnerships with Pixar (PIXR) and the Weinstein brothers of Miramax films.
The co-production agreement with Pixar, which has created such hit films as "Toy Story" "Monsters Inc.," "Finding Nemo" and the current Academy-award nominated "The Incredibles" will expire once Pixar deliver the last film under the contract, "Cars," in June 2006.
During Disney's annual shareholders meeting Friday, Eisner played up the company's own computer-animated films, "Chicken Little," coming Nov. 5, and "Rapunzel Unbraided."
Last week, Eisner described the human characters in the Pixar-Disney films as "pathetic", and on Friday he crowed that "Rapunzel" would "take human figures to the next level" adding warmth, heart and artistry to 3-D animation.
Pixar Chief Executive Steve Jobs said during a conference call Thursday that he attributed the "pathetic" remark to Eisner being a "loose cannon."
Jobs also said it wasn't likely that the company would strike a new deal with Disney, but Pixar was waiting to see where executives at different Hollywood studios might land after Eisner leaves Disney.
Pixar has been seeking a deal in which a movie studio acting as distributor of its films, for a fee, with Pixar retaining all rights to the films and characters.
Under its current deal, Pixar and Disney share equally in the profits, after Disney recoups costs, and Disney retains control of the movies and characters. That deal allows Disney to move ahead with plans to make a second sequel to "Toy Story," without Pixar's input. Disney intends to release the third installment in 2008.
Jobs said Pixar has declined to be involved in the production of that sequel or any others, saying it doesn't make economic sense.
As for Miramax, Disney's contract with founders Bob and Harvey Weinstein expires on Sept. 30. Eisner said the company is in private talks with the Weinsteins about what their participation with the company, if any, will be.
Eisner stressed that Disney will own the Miramax name and the film library. Disney will continue to make small, lower budget, independent films, under the Miramax banner, like Miramax's 1998 hit "Shakespeare in Love." He added that if the Weinsteins can't make a deal with Disney, Walt Disney Studios Chairman ________ Cook will find someone to head Miramax.
-By Dwight Oestricher, Dow Jones Newswires; 201-938-5266; dwight.oestricher@dowjones.com
By DWIGHT OESTRICHER
February 11, 2005 4:12 p.m.
Of DOW JONES NEWSWIRES
NEW YORK -- Walt Disney Co.'s (DIS) Chief Executive Michael Eisner doesn't seem fazed that the company was about to lose its partnerships with Pixar (PIXR) and the Weinstein brothers of Miramax films.
The co-production agreement with Pixar, which has created such hit films as "Toy Story" "Monsters Inc.," "Finding Nemo" and the current Academy-award nominated "The Incredibles" will expire once Pixar deliver the last film under the contract, "Cars," in June 2006.
During Disney's annual shareholders meeting Friday, Eisner played up the company's own computer-animated films, "Chicken Little," coming Nov. 5, and "Rapunzel Unbraided."
Last week, Eisner described the human characters in the Pixar-Disney films as "pathetic", and on Friday he crowed that "Rapunzel" would "take human figures to the next level" adding warmth, heart and artistry to 3-D animation.
Pixar Chief Executive Steve Jobs said during a conference call Thursday that he attributed the "pathetic" remark to Eisner being a "loose cannon."
Jobs also said it wasn't likely that the company would strike a new deal with Disney, but Pixar was waiting to see where executives at different Hollywood studios might land after Eisner leaves Disney.
Pixar has been seeking a deal in which a movie studio acting as distributor of its films, for a fee, with Pixar retaining all rights to the films and characters.
Under its current deal, Pixar and Disney share equally in the profits, after Disney recoups costs, and Disney retains control of the movies and characters. That deal allows Disney to move ahead with plans to make a second sequel to "Toy Story," without Pixar's input. Disney intends to release the third installment in 2008.
Jobs said Pixar has declined to be involved in the production of that sequel or any others, saying it doesn't make economic sense.
As for Miramax, Disney's contract with founders Bob and Harvey Weinstein expires on Sept. 30. Eisner said the company is in private talks with the Weinsteins about what their participation with the company, if any, will be.
Eisner stressed that Disney will own the Miramax name and the film library. Disney will continue to make small, lower budget, independent films, under the Miramax banner, like Miramax's 1998 hit "Shakespeare in Love." He added that if the Weinsteins can't make a deal with Disney, Walt Disney Studios Chairman ________ Cook will find someone to head Miramax.
-By Dwight Oestricher, Dow Jones Newswires; 201-938-5266; dwight.oestricher@dowjones.com
