Iger enters battle to head Disney

[cherrynegra]

14 Jun 2004
Iger enters battle to head Disney

The president and chief operating officer of the Walt Disney Company has, for the first time, expressed an interest in taking over control of the group from chief executive Michael Eisner.

In an interview with The Times, Iger said the company’s board was “aggressively dealing with the subject of succession” and that Iger saw himself as a ‘prime contender’ to assume the top job.

Iger added: “I would like to succeed Michael [Eisner]. Looking at internal and external candidates, I consider myself to be in the running so I think it’s fair to say that the subject of succession is a fairly important one for me.”

In March 2004, Eisner was forced to stand down as chair of the Disney Group following a shareholder revolt, but kept his position as chief executive, despite 43 per cent of the company's shareholders voting against the continuation of his leadership.

Iger confirmed that non-executive Disney board members discuss the issue of Eisner’s successor “at every board meeting”.

Eisner has now been chief executive of Disney for 20 years, but industry insiders are doubtful as to whether he’ll reach 21.

 

[GaryT977]

So, is that a good thing or a bad thing?

 

[Shaman]

Well if what Iger says is true, and they ARE talking about succession at every meeting...thats good...

Is Iger the best replacement....uhhh...I don't think so...

I think the company needs someone NEW from outside the company to come in...emphasis on the word NEW....not members from the current gang...

 

[General Grizz]

NO.

NO.

NO.

:brick:

 

[cherrynegra]

S__________G IN HOLLYWOOD
Orlando Sentinel - Jun 9

Speaking of the film division... Eisner's expected negotiating problems with Miramax's Weinstein brothers are ramping up quite nicely. The contract between the two is supposed to be up in 2009, but a stipulation allows Disney to renegotiate in 2005. So Disney is starting to renegotiate. Surprise! At issue are Miramax's rising budgets and the Weinsteins' salaries. Which is extremely rich coming from a company with skyrocketing budgets - The Alamo, Brother Bear and Home on the Range to name three recent budget busters - and skyrocketing salaries - Eisner, natch.

Still, there is something that might hurt negotiations even more: Eisner's mouth. Another surprise! Eisner claimed publicly that Miramax has been unprofitable three of the last five years. I find that a little hard to believe since there have been a lot of big movies out of the studio in the past few years, like the Spy Kids franchise, the Scary Movie franchise, Chicago, the Kill Bills, etc. But Eisner's Number One Flunky Bob Iger piped up to agree with his bossman. Another major surprise! The best part is Iger's comment that pair aren't "applying current accounting rules." You know, those rules that allow Disney to claim every film as unprofitable, except at shareholder meetings. Even better is Iger's belief that "our side of the story is a rather credible side." He THINKS? RATHER credible? Strong words, no?

Anyhow, the Weinsteins got the last laugh as a spokesperson challenged Disney to sell Miramax back if it was so unprofitable. Which no one believes Disney wants to do. If Disney decides to play hardball with the Weinsteins, the brothers could simply walk away from the company and start another studio, essentially ending any future for Miramax. Plus, analysts believe there is little money to be made, but lots of credibility for credibility-challenged Disney. What happens to the film studio when yet another creative force races away from the fold?