Key Developments: Walt Disney Co (DIS)

Latest Key Developments (Source: Significant Developments)

Netflix Inc Signs New Multiyear Licensing Agreement With Walt Disney Co.'s (DIS) Disney/ABC Television Group-DJ
Thursday, 9 May 2013 11:38am EDT

Dow Jones reported that Netflix Inc signed a new multiyear licensing agreement with Walt Disney Co.'s (DIS) Disney/ABC Television Group that will make Netflix the exclusive U.S. subscription television service for five Disney Junior and Disney XD shows. Financial terms weren't disclosed. Full Article

Guggenheim Advises On Hulu Sale, May Also Bid; Hulu, Jointly Controlled By Walt Disney Co and News Corp-Reuters
Wednesday, 17 Apr 2013 10:19pm EDT

Reuters reported that Walt Disney Co and News Corp's Hulu has hired Guggenheim Partners to advise on a sale of the Company, even as the financial services firm is considering making its own bid for the video streaming service. A spokesman of Guggenheim, Terry Fahn, declined to comment, as did Hulu spokeswoman Elisa Schreiber, News Corp spokesman Dan Berger and Disney spokeswoman Zenia Mucha. Full Article

Walt Disney Co Lays Off About 150 Movie Studio Employees-Reuters
Wednesday, 10 Apr 2013 01:49pm EDT

Reuters reported that Walt Disney Co confirmed that the company is laying off employees in its movie studio division, a cost-cutting step after a review of the unit's operations. The move is part of an ongoing review to ensure that the studios' operational structure and economics align with the demands of the current marketplace. About 150 employees, less than 5% of the studio's staff, will lose their jobs. The bulk of the cuts are in the home entertainment, marketing and technology divisions and include fewer than 10 people in the animation unit. Full Article

Apple Inc, Google Inc Won't Face Poaching Class Action Suit, Yet And Defendants Includes Adobe Systems Inc, Intel Corp, Intuit Inc, And Walt Disney Co's Lucasfilm Ltd-Reuters
Friday, 5 Apr 2013 02:40pm EDT

Reuters reported that a U.S. judge ruled that a lawsuit alleging a broad conspiracy among Silicon Valley companies not to poach each other's employees cannot proceed as a class action for now, but left the door open for workers to eventually sue as a group. In a decision released on Friday, U.S. District Judge Lucy Koh in San Jose, California said the five software engineers suing Apple Inc, Google Inc and five other companies have yet to show enough in common among the proposed class members to allow them to sue together. But in deciding to give the plaintiffs another chance, the federal judge said she was 'keenly aware' new evidence had recently become available that could support class certification. She also said the nature of the 'alleged overarching conspiracy' and desire to litigate it all at once weighed 'heavily' in favor of certifying a class, which the plaintiffs' lawyers have said could include tens of thousands of people. If the plaintiffs win class certification, then they would have more leverage to extract large financial settlements than if they were to sue individually. Other defendants in the case include Adobe Systems Inc, Intel Corp, Intuit Inc, and Walt Disney Co's Lucasfilm Ltd and Pixar units. The defendants were accused of violating the Sherman Act and Clayton Act antitrust laws by conspiring to eliminate competition for labor, depriving workers of job mobility and hundreds of millions of dollars of compensation. Full Article

Walt Disney Co to Begin Layoffs In Studio, Consumer Products-Reuters
Thursday, 4 Apr 2013 09:00pm EDT

Reuters reported that Walt Disney Co expects to begin layoffs at its studio and consumer product divisions within the next two weeks, in the latest cost-reduction step to emerge from a Company wide review. The studio job cuts will center on the marketing and home video units and include a small number from the animation wing. It is unknown how many jobs will be lost at either division. On April 3, Disney began layoffs at the 30-year-old LucasArts games studio it inherited with the acquisition of George Lucas' film company last year, as it focuses on licensing its 'Star Wars' brand externally. Full Article

Walt Disney Co, Imax Corp To Co-Produce First Film-DJ
Wednesday, 20 Mar 2013 09:26am EDT

Dow Jones reported that Walt Disney Co and Imax Corp agreed to co-produce their first movie together an asyet untitled 3D movie from filmmaker Toni Myers expanding the relationship between the entertainment giant and the operator of theaters known for floor-to-ceiling curved screens. Full Article

Network18 Media & Investments Ltd, Viacom Inc. Tie up With Walt Disney Co In India-DJ
Wednesday, 30 Jan 2013 05:06am EST

Dow Jones reported that Network18 Media & Investments Ltd's equal joint venture (JV) with U.S.-based Viacom Inc. has formed a partnership with Walt Disney Co to gather content and distribute television channels. The partnership will be 74%-owned by IndiaCast Media Distribution Ltd., the Network18-Viacom joint venture and the rest by Disney's India unit, DisneyUTV. Network18 didn't reveal any financial details of the deal but said that both IndiaCast and DisneyUTV will move their domestic distribution businesses to the new venture, offering 35 channels across the cable, direct-to-home and Headend in the sky, or HITS, platforms. The partnership will help Walt Disney, which currently offers only nine channels in the kids, youth and movies segments in India, enhance its visibility and improve revenue generation at a time of rapid growth for the country's media and entertainment industry. Full Article

Walt Disney Co And AT&T U-verse Announce Broad Distribution Agreement
Tuesday, 15 Jan 2013 01:00pm EST

AT&T U-verse And Walt Disney Co announced a comprehensive long-term distribution agreement to deliver Disney`s robust lineup of top quality sports, news and entertainment content to AT&T U-verse TV customers across televisions, computers, smartphones, tablets, gaming consoles and internet-enabled televisions. The renewal agreement enhances the multichannel business model and supports the companies` mutual goal to deliver the best video content to customers across multiple platforms. Full Article

Walt Disney Co And Charter Communications Announces New Distribution Agreement
Monday, 31 Dec 2012 10:00am EST

Walt Disney Co and Charter Communications announced a comprehensive long term distribution agreement to deliver Disney`s robust lineup of sports, news and entertainment content to Charter TV customers across televisions, computers, smartphones, tablets, gaming consoles and internet-enabled televisions. The renewal agreement supports the companies mutual goal to deliver the video content to customers across multiple platforms. Launch of content across these new distribution platforms is planned to begin in the first half of 2013. As part of the new multi-year deal, The Longhorn Network will launch in Texas, Louisiana and Virginia systems by football season next year. Charter and The Walt Disney Company will also introduce several new services, including the full suite of authenticated WATCH products, ESPN Goal Line, ESPN Buzzer Beater, as well as the upcoming ABC News/Univision Joint Venture, a 24/7 news, information and lifestyle multi-platform network for English-dominant and bilingual Hispanics, the youngest and growing demographic in the U.S. In total, approximately 70 services are covered by the broad scope of this agreement. Full Article

Walt Disney Co Company Completes Lucasfilm Acquisition
Friday, 21 Dec 2012 05:00pm EST

Walt Disney Co announced that Disney has completed its acquisition of Lucasfilm Ltd. LLC. Under the terms of the merger agreement, at closing Disney issued 37,076,679 shares and made a cash payment of $2,208,199,950. Based upon the closing price of Disney shares on December 21, 2012 at $50.00, the transaction has a total value of approximately $4.06 billion. Full Article

Walt Disney Co News

Disney's ABC to start first streaming of live broadcast shows

LOS ANGELES - Disney's ABC network will become the first broadcast network to stream its shows live online through an ongoing service, starting with viewers of its TV stations in New York and Philadelphia on May 14 and expanding to its other stations by the end of the summer.

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