Key Developments: Walt Disney Co (DIS)

DIS on New York Consolidated

19 Sep 2014
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Latest Key Developments (Source: Significant Developments)

Walt Disney Co announces shanghai disney resort accelerates resort expansion
Monday, 28 Apr 2014 07:00pm EDT 

Walt Disney Co:Says that it has reached an agreement with Shanghai Shendi Group, its joint venture partner in China, to accelerate the expansion of Shanghai Disney Resort.The increased investment of about 5 billion yuan ($0.8 billion) will be used primarily for additional attractions, entertainment and other offerings to increase capacity at the theme park, with the majority targeted to be completed for opening day.Shanghai Shendi Group will continue to hold 57 percent of the shares of the owner companies while Disney will hold the remaining 43 percent.Financing of the additional investment will be proportionate to ownership and, as with the original shareholder investment, it is not anticipated that third-party debt will be incurred to finance the expansion.  Full Article

Walt Disney Co to acquire Maker Studios
Monday, 24 Mar 2014 05:30pm EDT 

Walt Disney Co:Agrees to acquire Maker Studios, the network of online video content on YouTube.Says Maker Studios shareholders will receive total consideration of $500 million, and a performance-linked earn-out of up to $450 million if the strong performance targets are met.  Full Article

Walt Disney Co and DISH Network signs long-term agreement
Monday, 3 Mar 2014 08:30pm EST 

Walt Disney Co and Dish Network:Announced a long-term, distribution agreement.Agreement provide DISH customers with access to Disney's sports, news and entertainment content across televisions, computers, smartphones, tablets, gaming consoles and connected devices.The agreement will result in dismissal of all pending litigation between the two companies, including disputes over PrimeTime Anytime and AutoHop.  Full Article

Walt Disney Co increases annual cash dividend by 15 pct to $0.86 per share
Wednesday, 4 Dec 2013 04:17pm EST 

Walt Disney Co:Declares an annual cash dividend of $0.86 per share, up 15 pct, or $0.11 per share, from the previous year.Says dividend is payable on Jan. 16, 2014 to shareholders of record at the close of business on Dec. 16.  Full Article

Walt Disney Co & BesTV agree to form digital joint venture in China
Wednesday, 4 Dec 2013 05:15am EST 

Walt Disney Co and BesTV New Media Company Limited:Says they have signed definitive agreements for the formation of a new joint venture that will place viewers at the forefront of China's fast-changing digital landscape.Says the transaction is subject to certain closing conditions including clearance by applicable regulatory authorities.Says the joint venture seeks to maximize the technical experience, professional skills, experience and marketing strategies of both companies and to operate digital technology consulting businesses centering on BesTV and Disney-related services, products and content in mainland China.Says BesTV will own 51% of the joint venture and TWDC Shanghai Enterprises, LLC, a wholly owned indirect subsidiary of The Walt Disney Company, will own 49%.  Full Article

Walt Disney Co's ESPN To Drop International X Games Competitions, Cut Jobs-Reuters
Thursday, 3 Oct 2013 01:01pm EDT 

Reuters reported that Walt Disney Co's ESPN will end the international versions of its X Games extreme sports competitions because it could not make money on the events, which feature skateboarding and other sports. The Company will be cutting an unspecified number of jobs related to the International X Games, which took place in cities including Barcelona, Munich, Foz do IguaƧu, Brazil and Tignes, France. The International X Games had been broadcast on ESPN's U.S. channel and its sister network, ESPN 2.  Full Article

AT&T Inc and Others Race To Buy News Corp And Walt Disney Co's Hulu-Reuters
Monday, 8 Jul 2013 09:19pm EDT 

Reuters reported that News Corp and Walt Disney Co owned Hulu has attracted three bids of over $1 billion from suitors including a partnership of AT&T Inc and Chernin Group, the Wall Street Journal reported. The three highest bidders also include DirecTV and Guggenheim Digital Media which is jointly bidding with private equity firm KKR & CO LLP the Journal said. The deal could be sealed in a week or two after the deadline for bids ends this week, it added.  Full Article

Walt Disney Co's ESPN To Scrap 3D Channel, Saying It Didn't Catch On-DJ
Wednesday, 12 Jun 2013 11:27am EDT 

Dow Jones reported that Walt Disney Co's ESPN sports network will discontinue its 3D channel by the end of the year after it failed to catch on, a spokeswoman said. ESPN launched its 3D cable channel in 2010, raising hopes that sports could feed growth in the technology's adoption. The 24-hour broadcast has shown championship NBA basketball, golf, tennis and soccer, and even the Little League Baseball World Series. The network said it will continue to experiment with new technology, such as ultra-high-definition television.  Full Article

DirecTv Two Others Bid Over $1 Billion For News Corp And Walt Disney Co's Hulu-Reuters
Saturday, 1 Jun 2013 08:23am EDT 

Reuters reported that DirecTV and two other bidders have offered more than $1 billion apiece to buy Hulu, a source with knowledge of the bidding process said on Friday, increasing the likelihood that owners News Corp and Walt Disney Co will be able to shed the video streaming service they failed to sell in 2011. Hulu board members, who are being advised by Guggenheim Partners on the auction, fielded at least seven buyout offers last week. It was unclear which two other bidders offered $1 billion for Hulu. The service has more than 4 million subscribers and generates revenue of about $700 million through subscriptions and a free ad-supported service. The proposed price tag heightens the likelihood that News Corp and Disney will find an acceptable offer price, which was the sticking point of the 2011 round of buyout negotiations.  Full Article

Yahoo! Inc Bid For Walt Disney Co's Hulu In $600 Million to $800 Million Range-NYT
Monday, 27 May 2013 11:55am EDT 

The New York Times reported that according to numerous sources close to the situation, Yahoo! Inc has bid from $600 million to $800 million for the Walt Disney Co's Hulu. The reason for the wide range is due to the fact that the Silicon Valley Internet giant similar to most bidders in the new effort to acquire Hulu, has proposed several different prices based on a variety of circumstances. That includes the length of the licensing rights for content and how much control the programming companies selling Hulu have over their media.  Full Article


Florida orange industry mascot, Captain Citrus, gets makeover

ORLANDO Fla. - Florida has a muscular new superhero, courtesy of Marvel Comics - Captain Citrus - a made-to-order crime fighter who promotes orange juice while battling evil through the power of the sun.

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