-$0.14 (-0.41%)
03:42AM (15 mins delay)
Sep 28, 2009 - 12:05 PM EDT
Diane Mermigas submits:Walt Disney (DIS) CEO Bob Iger is likely to couple the appointment of a new studio chief with new initiatives and changes aimed at reinventing the film business for the digital age. The recent, abrupt departure of veteran studio chief Dick Cook frees Iger to revamp the studio process and structure in response to the intensifying impact of the digital tsunami and the recession on Disney's free-falling filmed entertainment revenues and earnings. The studio, which has contributed as much as 15% of Disney's total operating income, has posted its first quarterly losses in about five years. The cross-company leveraging of Disney's evergreen brand and character franchises, a hallmark of Iger's four-year tenure, has been a vulnerable defense to rapidly changing consumer behavior. Iger is likely to embrace some dramatic new approaches to film distribution, marketing, merchandising and financing.
Source: Seeking Alpha (Sep 28, 2009 - 12:05 PM EDT)
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