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July 31, 2005
Disney to Open Shanghai Park in 2012
Walt Disney Company plans to open a Disney theme park in Shanghai in 2012, the Hong Kong Economic Times reports. Citing sources, the report said Disney and the Shanghai government reached an agreement to begin construction of China's second Disneyland in 2008, with a completion date of 2012. The sources said the park will be four times bigger than Hong Kong's Disneyland, scheduled to open September 12. However, it is unclear whether the plan will receive regulatory approval from China's central government, according to the newspaper.
Australia's film industry has been dealt a blow with the decision by US entertainment giant Walt Disney Co to close its animation production studio in Sydney. The closure of DisneyToon Studios Australia (DTSA) in mid-2006 will cost about 250 jobs, the company said. "It is with regret that DisneyToon Studios has decided to close their animation production facility in Sydney in mid-2006," the company said in a statement today. "This closure is a business decision due in large part to the changing creative climate and economic environment in which DisneyToon Studios requires more flexibility to choose the most appropriate and efficient animation process." The demise of the Australian studio follows Disney's closure of other international facilities in recent years. DisneyToon staff were told of the decision yesterday when all employees were briefed by general manager Philip Oakes.
Eric Jacobson, Senior Vice President of Creative Development for Walt Disney Imagineering, was interviewed by CoasterRadio.com on July 17th. In fact, the complete show is devoted to talking about Walt Disney World, Disneyland and the importance of Walt Disney creating Disneyland. Eric even helped a listner win a prize package from the show by answering some Disneyland trivia. Everyone is encouraged to listen to the interview.
The stars were shining today in Hollywood as Disneyland was honored on the occasion of its milestone 50th anniversary by the Hollywood Historic Trust and Johnny Grant, Honorary Mayor of Hollywood. In recognition of its pioneering status as an entirely new genre of family entertainment, Disneyland received the coveted Award of Excellence during a 10:30am PDT ceremony in front of Disney's Soda Fountain and Studio Store on Hollywood Boulevard (next to the historic El Capitan Theatre). Accepting the award in person on behalf of Disneyland and its 20,000 cast members was Michael D. Eisner, chief executive officer of The Walt Disney Company, Robert Iger, CEO-elect and president of The Walt Disney Company and the inimitable Mickey Mouse. Joining them were an additional eye-popping cast of 49 Disney Characters on-hand to celebrate the moment.
"...It's been a while since last I wrote to you about how much nicer Disneyland has been looking lately, and as you probably know, a lot has happened in that time... maybe the single most important thing being that we here at SaveDisney have come to an agreement with the new management at the Walt Disney Company regarding our mutual relationship. Accordingly, on August 7th, we will permanently close down this website... with regrets, of course, but also with the satisfaction that it has served its purpose... to inform and educate all of you about the future of the Disney legacy. One result, which pleases me personally, and my family (which has endured these months alongside me), and of course Stanley Gold and many others here at Shamrock, is that I have been asked to rejoin the Company, as a Consultant, and as Director Emeritus, and to take part in whatever way I can help as a part of the Company, its art and its business. It is my intent to fully be a part of the Company again, to the best of my ability, and I can never fully describe what a joy it is that I will soon be re-connecting with so many friends - - from my past, from my present, and from my future...."
The Walt Disney Company and two ex-directors who have waged a bitter two-year fight have agreed to a truce, including dropping a contentious shareholder lawsuit challenging the selection of the company's new chief executive officer. The company said Friday it has named former director Roy E. Disney as a director emeritus and a consultant. In exchange, Roy Disney and ex-board member Stanley Gold have agreed not to run a challenge slate of directors or submit shareholder resolutions for the next five years. The two also pledged to back the leadership of Robert Iger, who succeeds longtime chief executive Michael Eisner in September. In a brief statement Friday, the company reaffirmed its commitment to rotate members of the board's committees as currently required by the company's corporate governance guidelines.
Disney Execs Iger and Staggs to Get Big Stock Option Awards
Walt Disney Co.'s incoming chief executive, Robert Iger, and Chief Financial Officer Thomas O. Staggs are getting sizable stock option awards as part of their compensation for the year.According to a Securities and Exchange Commission filing late Wednesday, Iger was awarded options to acquire 274,241 Disney common shares at a strike price of $25.80.Staggs received 125,367 stock options at the same exercise price, SEC filings said.The grants vest over three years beginning in June 2006, according to the filings.
U.S. Postal Service Gets the Party Started With Mickey and Friends
Music, food, parties and dance are essential elements to any celebration and today the U.S. Postal Service issued a set of four stamps today depicting classic Disney characters bringing the party to life. The Art of Disney: Celebration stamps feature Mickey Mouse and Pluto, Alice and the Mad Hatter, Ariel and Flounder and Snow White and Dopey. This is the second in a series paying tribute to the art of Disney, and comes during an especially magical year as Disneyland and its theme parks around the world celebrate 50 years of magic.