More Pooh, in case your not sick of this case already
Disney's Pooh power struggle
Despite previous claim, media firm says it will take full control of Winnie the Pooh in 2004.
November 5, 2002: 7:01 AM EST
SAN FRANCISCO (Reuters) - Walt Disney Co. said it will wrest full control of Winnie the Pooh in 2004 from the company that is suing it over commercial rights to the honey-loving bear.
But a lawyer for Stephen Slesinger Inc., the company whose ongoing suit could cost Disney up to $200 million by one Disney calculation, said her clients would block any attempt to strip them of their rights to the cuddly bear created by British writer A.A. Milne in the 1920s.
A Disney spokesman told reporters in a conference call Monday the development had no bearing on the lawsuit by Slesinger, which acquired U.S. rights to Pooh from author Milne in the 1930s and later leased them to Disney. It claims Disney has shortchanged it on royalties, which Disney denies.
Disney said that a Milne granddaughter had taken advantage of changes in copyright law to reclaim the rights for Pooh merchandise. Disney is estimated to sell some $1 billion of Pooh related products per year.
Click here to check other entertainment stocks
"She is recapturing her rights from SSI and she is regranting them to the Walt Disney Co.," said Disney spokesman John Spelich. "As of November 2004 we will have the worldwide merchandise rights to Winnie the Pooh characters, or motion pictures."
He said the Milne granddaughter, Clare Milne, and Minette Hunt, granddaughter of illustrator E.H. Shepard, had reclaimed U.S. rights to Pooh held by Slesinger and international rights to Pooh held by Disney, from Nov. 2004.
Then the women agreed to lease all rights back to Disney for undisclosed terms. Milne and Hunt were not immediately available for comment.
Slesinger lawyer Bonnie Eskenazi said she had not received notice from the Milne granddaughter.
"We don't know what Disney is talking about. The Slesingers bought the rights from the Milnes, and the Milnes have no right to divest the Slesingers of those rights," she said, adding that the Slesingers will go to court, again, if need be.
She said Slesinger's rights to Pooh were not due to lapse for years under previous law or under the recent modification of copyright law.
"It is not close to going into the public domain," she added. The legal wrangling between Disney and Slesinger goes back nearly 20 years.
Shares of Disney (DIS: Research, Estimates) gained $1.02 Monday to close at $18.05.
Disney's Pooh power struggle
Despite previous claim, media firm says it will take full control of Winnie the Pooh in 2004.
November 5, 2002: 7:01 AM EST
SAN FRANCISCO (Reuters) - Walt Disney Co. said it will wrest full control of Winnie the Pooh in 2004 from the company that is suing it over commercial rights to the honey-loving bear.
But a lawyer for Stephen Slesinger Inc., the company whose ongoing suit could cost Disney up to $200 million by one Disney calculation, said her clients would block any attempt to strip them of their rights to the cuddly bear created by British writer A.A. Milne in the 1920s.
A Disney spokesman told reporters in a conference call Monday the development had no bearing on the lawsuit by Slesinger, which acquired U.S. rights to Pooh from author Milne in the 1930s and later leased them to Disney. It claims Disney has shortchanged it on royalties, which Disney denies.
Disney said that a Milne granddaughter had taken advantage of changes in copyright law to reclaim the rights for Pooh merchandise. Disney is estimated to sell some $1 billion of Pooh related products per year.
Click here to check other entertainment stocks
"She is recapturing her rights from SSI and she is regranting them to the Walt Disney Co.," said Disney spokesman John Spelich. "As of November 2004 we will have the worldwide merchandise rights to Winnie the Pooh characters, or motion pictures."
He said the Milne granddaughter, Clare Milne, and Minette Hunt, granddaughter of illustrator E.H. Shepard, had reclaimed U.S. rights to Pooh held by Slesinger and international rights to Pooh held by Disney, from Nov. 2004.
Then the women agreed to lease all rights back to Disney for undisclosed terms. Milne and Hunt were not immediately available for comment.
Slesinger lawyer Bonnie Eskenazi said she had not received notice from the Milne granddaughter.
"We don't know what Disney is talking about. The Slesingers bought the rights from the Milnes, and the Milnes have no right to divest the Slesingers of those rights," she said, adding that the Slesingers will go to court, again, if need be.
She said Slesinger's rights to Pooh were not due to lapse for years under previous law or under the recent modification of copyright law.
"It is not close to going into the public domain," she added. The legal wrangling between Disney and Slesinger goes back nearly 20 years.
Shares of Disney (DIS: Research, Estimates) gained $1.02 Monday to close at $18.05.
