Hoover's Online Report Builder
The Walt Disney Company (NYSE: DIS)
Copyright 2004, Hoover's, Inc.
Report Builder − The Walt Disney Company − Hoover's Online
Table of Contents
The Basics...............................................................................................................................................................................1
Key Numbers.............................................................................................................................................................1
Financial Overview....................................................................................................................................................1
Officers & Employees................................................................................................................................................2
Board Members..........................................................................................................................................................4
Industry Information..................................................................................................................................................4
SIC Codes...................................................................................................................................................................5
NAICS Codes.............................................................................................................................................................5
Top Competitors.........................................................................................................................................................6
All Competitors..........................................................................................................................................................6
Rankings.....................................................................................................................................................................7
Subsidiaries/Affiliates Covered By Hoover's Online.................................................................................................7
Biographies............................................................................................................................................................................8
Michael D. Eisner, Age 62........................................................................................................................................8
Robert A. (Bob) Iger, Age 53....................................................................................................................................9
Thomas O. (Tom) Staggs, Age 41............................................................................................................................9
Peter E. Murphy, Age 41.........................................................................................................................................10
Alan N. Braverman, Age 56....................................................................................................................................11
Preston Padden, Age 55..........................................................................................................................................11
Zenia Mucha............................................................................................................................................................11
John M. Renfro........................................................................................................................................................12
David K. Thompson................................................................................................................................................12
Terri A. Southwick..................................................................................................................................................13
Edward J. Nowak....................................................................................................................................................13
Chris Curtin.............................................................................................................................................................13
Susan Fox................................................................................................................................................................14
Richard W. Cook, Age 52.......................................................................................................................................14
Bob Weinstein, Age 47...........................................................................................................................................15
Harvey Weinstein, Age 51......................................................................................................................................16
Martin A. Sklar........................................................................................................................................................16
Anne M. Sweeney...................................................................................................................................................18
Walter C. Liss Jr......................................................................................................................................................18
John Hare................................................................................................................................................................19
Alex Wallau............................................................................................................................................................20
Nina R. Jacobson.....................................................................................................................................................20
Thomas C. Schumacher, Age 44.............................................................................................................................21
Andrew P. (Andy) Mooney.....................................................................................................................................22
Karl Holz.................................................................................................................................................................22
Deborah Dugan.......................................................................................................................................................23
Matthew A. Ouimet.................................................................................................................................................23
George W. Bodenheimer.........................................................................................................................................24
David J. Stainton, Age 41.......................................................................................................................................25
Andy Bird................................................................................................................................................................26
Stephen H. (Steve) Wadsworth...............................................................................................................................26
James A. (Jay) Rasulo, Age 46...............................................................................................................................27
André Lacroix, Age 43............................................................................................................................................28
Allen R. Weiss........................................................................................................................................................28
Bruce Morrison.......................................................................................................................................................28
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Report Builder − The Walt Disney Company − Hoover's Online
Table of Contents
Biographies
John E. Bryson, Age 60...........................................................................................................................................29
John S. Chen, Age 49..............................................................................................................................................29
Judith L. Estrin, Age 49..........................................................................................................................................30
Aylwin B. Lewis, Age 49........................................................................................................................................30
Monica C. Lozano, Age 47.....................................................................................................................................31
Overview..............................................................................................................................................................................32
History..................................................................................................................................................................................34
Products/Operations...........................................................................................................................................................35
Other Resources Available On Hoover's Online..............................................................................................................41
Other Resources.......................................................................................................................................................41
Related Products From Our Trusted Partners..........................................................................................................41
Annual Financials................................................................................................................................................................42
Quarterly Financials...........................................................................................................................................................44
Historical Financials & Employees....................................................................................................................................47
Market Data.........................................................................................................................................................................49
Comparison Data.................................................................................................................................................................50
Competitive Landscape.......................................................................................................................................................52
ii
The Basics
500 S. Buena Vista St.
Burbank, CA 91521−9722 (Map)
http://disney.go.com
Phone: 818−560−1000
Fax: 818−560−1930
The monarch of this magic kingdom is no man but a mouse −− Mickey Mouse. The Walt Disney Company is the #2
media conglomerate in the world, behind Time Warner. Disney owns the ABC television network, 10 broadcast TV
stations, and more than 70 radio stations. It also has stakes in several cable channels such as ESPN (80%) and
AETelevision Networks (38%). Its Walt Disney Studios produces films through imprints Walt Disney Pictures,
Touchstone, Hollywood Pictures, and Miramax. Walt Disney Parks &Resorts, which includes Walt Disney World and
Disneyland, owns the most popular resorts in North America. Walt Disney Internet Group oversees the Mouse's Web
properties (ABC.com, Disney Online, ESPN.com).
Key Numbers
Company Type
Public (NYSE: DIS)
Fiscal Year−End
September
2003 Sales (mil.)
$27,061.0
1−Year Sales Growth
6.8%
2003 Net Income (mil.)
$1,267.0
1−Year Net Income Growth
2.5%
2003 Employees
112,000
1−Year Employee Growth
0.0%
Auditor
PricewaterhouseCoopers LLP
Financial Overview
Last Close 2−Mar−2004
$26.76
52−Week High
$28.58
52−Week Low
$14.84
Basic EPS
$0.85
Price/Earnings Ratio
31.48
Current Ratio
1.05
R&D Expenditures (mil.)
−−
Ad Expenditures (mil.)
2.50
% Owned by Institutions
64.50%
Report Builder − The Walt Disney Company − Hoover's Online
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Officers & Employees
Title
Name
Age
Salary
Bonus
Chairman and CEO
Michael D. Eisner
62
$1,000,000
President, COO, and Director
Robert A. (Bob) Iger
53
$1,394,231
$4,000,000
SEVP and CFO
Thomas O. (Tom) Staggs
41
$841,827
$1,000,000
SEVP and Chief Strategic Officer Peter E. Murphy
41
$841,827
$1,000,000
SEVP and General Counsel
Alan N. Braverman
56
$685,291
$700,000
EVP Corporate Business
Development and Strategic
Planning
Salil Mehta
EVP Planning and Control
John J. Garand
EVP Worldwide Government
Relations
Preston Padden
55
SVP Disney Worldwide Outreach Jody Dreyer
SVP Corporate Alliances
Valerie Cohen
SVP Corporate Communications Zenia Mucha
SVP Corporate Taxes
Anne Buettner
SVP Human Resources
John M. Renfro
SVP Investor Relations and
Shareholder Services
Wendy Webb
SVP New Technology
Robert Lambert
SVP, Deputy General Counsel −
Corporate, and Secretary
David K. Thompson
SVP and Treasurer
Christine M. McCarthy
SVP and Deputy General
Counsel − Intellectual Property
Terri A. Southwick
SVP and Deputy General
Counsel − Litigation and
Employment
Edward J. Nowak
VP Corporate Synergy and
Special Assistant to the
Chairman
Chris Curtin
VP Government Relations
Susan Fox
VP Governance Administration
and Assistant Secretary
Marsha Reed
VP Multicultural Marketing
Gilbert Davila
Chairman, The Walt Disney
Studios
Richard W. Cook
52
Bob Weinstein
47
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Co−Chairman, Miramax Film
Corp.
Co−Chairman, Miramax Film
Corp.
Harvey Weinstein
Vice Chairman and Principal
Creative Executive, Walt Disney
Imagineering
Martin A. Sklar
51
President, Disney Interactive and Jan E. Smith
Buena Vista Game
Entertainment Studio
President, ABC Cable Networks
Group and Disney Channel
Worldwide
Anne M. Sweeney
President, ABC−Owned
Television Stations
Walter C. Liss Jr.
President, ABC Radio
John Hare
President, ABC Television
Network
Alex Wallau
President, Buena Vista Motion
Pictures Group
Nina R. Jacobson
President, Buena Vista
Theatrical Productions
Thomas C. Schumacher
President, Disney Consumer
Products
Andrew P. (Andy) Mooney
President, Disney Cruise Line
Karl Holz
President, Disney Publishing
Worldwide
Deborah Dugan
44
President, The Disneyland Resort Matthew A. Ouimet
President, ESPN and ABC Sports George W. Bodenheimer
President, Walt Disney Feature
Animation
David J. Stainton
President, Walt Disney
Imagineering
Donald W. Goodman
President, Walt Disney
International
Andy Bird
President, Walt Disney Internet
Group
Stephen H. (Steve) Wadsworth
President, Walt Disney Parks &
Resorts
James A. (Jay) Rasulo
41
46
President, Walt Disney Television Barry M. Blumberg
Animation
Chairman and CEO, Euro
André Lacroix
43
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Disney
President, The Walt Disney
World Resort
Allen R. Weiss
VP Retail Marketing, Disney
Consumer Products
Bruce Morrison
Board Members
Title
Name
Age
Chairman and CEO
Michael D. Eisner
62
President, COO, and Director
Robert A. (Bob) Iger
53
Director
John E. Bryson
60
Director
John S. Chen
49
Director
Judith L. Estrin
49
Director
Aylwin B. Lewis
49
Director
Monica C. Lozano
47
Director
George J. Mitchell
70
Director
Father Leo J. O'Donovan
69
Director
Gary L. Wilson
64
Director
Industry Information
• Media (primary)
♦ Film & Video
◊ Motion Picture Production & Distribution
♦ Internet Content Providers
♦ Music
♦ Publishing
◊ Book Publishing
◊ Periodicals Publishing
♦ Radio Broadcasting & Programming
♦ Television
◊ Television Cable, Pay & Broadcast Networks
◊ Television Production & Distribution
◊ Television Station Groups
• Leisure
♦ Entertainment
◊ Amusement Parks, Arcades & Attractions
♦ Lodging
◊ Resorts
♦ Sports & Recreation
◊ Professional Sports Teams & Organizations
• Consumer Products Manufacturers
♦ Toys & Games
• Retail
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♦ Nonstore Retail
◊ Catalog, Mail Order & Television Sales
• Telecommunications Services
♦ Data Services
◊ Internet & Online Services Providers
• Computer Software
♦ Education & Training Software
♦ Entertainment & Games Software
SIC Codes
2721
Periodicals
2731
Book publishing
2732
Book printing
2741
Miscellaneous publishing
3652
Prerecorded records and tapes
3942
Dolls and stuffed toys
3944
Games, toys, and children's vehicles
4832
Radio broadcasting stations
4833
Television broadcasting stations
4841
Cable and other pay TV services
4899
Communication services, nec
5961
Catalog and mail−order houses
7011
Hotels and motels
7372
Prepackaged software
7375
Information retrieval service
7379
Computer related services, necs
7383
News syndicates
7812
Motion picture & video production
7819
Services allied to motion pictures
7822
Motion picture and tape distribution
7829
Motion picture distribution services
7929
Entertainers & entertainment groups
7941
Sports clubs, managers, & promoters
7996
Amusement parks
7999
Amusement and recreation, nec
NAICS Codes
33993
Doll, Toy, and Game Manufacturing
339931
Doll and Stuffed Toy Manufacturing
454113
Mail−Order Houses
Report Builder − The Walt Disney Company − Hoover's Online
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511120
Periodical Publishers
511130
Book Publishers
51119
Other Publishers
511210
Software Publishers
512110
Motion Picture and Video Production
512120
Motion Picture and Video Distribution
51219
Postproduction Services and Other Motion Picture and Video Industries
512191
Teleproduction and Other Postproduction Services
512199
Other Motion Picture and Video Industries
512210
Record Production
512230
Music Publishers
512240
Sound Recording Studios
51511
Radio Broadcasting
515111
Radio Networks
515112
Radio Stations
515120
Television Broadcasting
515210
Cable and Other Subscription Programming
516110
Internet Publishing and Broadcasting
517910
Other Telecommunications
51811
Internet Service Providers and Web Search Portals
518111
Internet Service Providers
519190
All Other Information Services
71121
Spectator Sports
711211
Sports Teams and Clubs
713110
Amusement and Theme Parks
713990
All Other Amusement and Recreation Industries
721110
Hotels (except Casino Hotels) and Motels
72119
Other Traveler Accommodation
721199
All Other Traveler Accommodation
Top Competitors
• NBC
• Time Warner
• Vivendi Universal
All Competitors
• Busch Entertainment
• Discovery Communications
• DreamWorks SKG
• Fox Entertainment
Report Builder − The Walt Disney Company − Hoover's Online
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• Liberty Media
• Lucasfilm
• MGM
• Microsoft
• NBC
• Six Flags
• Sony Pictures Entertainment
• Terra Lycos
• Time Warner
• Viacom
• Vivendi Universal
• Yahoo!
Rankings
• #61 in FORTUNE 500
• S&P 500
• Dow Jones Industrials
• Dow Jones Global Titans
• #78 in FT Global 500
Subsidiaries/Affiliates Covered By Hoover's Online
• ABC, Inc.
♦ ABC Cable Networks Group
◊ A&E Television Networks
◊ ESPN, Inc.
⋅ SportsTicker Enterprises, L.P.
◊ Lifetime Entertainment Services
♦ ABC Radio Networks, Inc.
♦ Hyperion
• Disney Publishing Worldwide
• Euro Disney S.C.A.
• Mammoth Records
• Mighty Ducks of Anaheim
• Walt Disney Internet Group
• Walt Disney Parks & Resorts
• Walt Disney Studio Entertainment
♦ Buena Vista Home Entertainment, Inc.
♦ Buena Vista Motion Pictures Group
♦ Miramax Film Corp.
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Biographies
Michael D. Eisner, Age 62
Chairman and CEO, $1,000,000 salary
Biography
For more than three decades, Michael Eisner has been a leader in the entertainment industry, helping to shape this key
area of the American economy. He began his career at ABC, where he rose to senior vice president of prime time
production and development, taking the network from number three to number one with such landmark shows as Happy
Days; Barney Miller; Rich Man, Poor Man; and Roots. In 1977, Eisner became president of Paramount Pictures, leading
the studio to become number one in box office and profitability, with such films as Raiders of the Lost Ark, Saturday
Night Fever, Grease, Ordinary People and Terms of Endearment. In 1984, Eisner assumed his current position as CEO
and chairman of The Walt Disney Company, and immediately implemented a number of successful growth strategies. At
the theme parks, attendance and revenues climbed due to popular new attractions and the addition of new hotels and an
entire new theme park, The Disney/MGM Studios. Thanks, in part, to the development of the Disney Stores, Disney
Consumer Products rose to dominance in the field of entertainment merchandise. The Disney Studios shot from last place
to first with live−action films such as Down and Out in Beverly Hills; Three Men and a Baby; Good Morning, Vietnam;
and Dead Poets Society. Renewed efforts at Disney animation resulted in such fiscally and creatively successful films as
Who Framed Roger Rabbit, The Little Mermaid, Beauty & the Beast, Aladdin, The Lion King, Toy Story, Mulan and
Tarzan. In recent years, Disney continued its dramatic growth, thanks to a wide range of initiatives, including: The
opening of Disneyland Paris, which is now Europe's most popular paid vacation destination. The expansion of Walt
Disney World with such enhancements as Disney's Animal Kingdom theme park, Blizzard Beach water park, the town of
Celebration and the Downtown Disney entertainment district. Further expansions include new theme parks in Anaheim,
Tokyo and Paris. The acquisition of Capital Cities/ABC, which added the ABC television network and such cable assets
as ESPN, The History Channel, Lifetime, A&E and E!. The development of such leading Internet sites as Disney.com,
ESPN.com, ABCNews.com, ABC.com and Family.com. The acquisition of Capital Cities/ABC, which added the ABC
television network and such cable assets as ESPN, The History Channel, Lifetime, A&E and E!. The development of such
leading Internet sites as Disney.com, ESPN.com, ABCNews.com, ABC.com and Family.com. The acquisition of
Miramax Pictures, which went on to release such critical and box office hits as The English Patient, Good Will Hunting,
Life is Beautiful, Shakespeare in Love and The Cider House Rules. The creation of Walt Disney Theatrical, which has
now produced three successful Broadway shows − Beauty & the Beast, Aida and the box office phenomenon, The Lion
King. The development of such theme park−related businesses as the Disney Cruise Line and Disney Regional
Entertainment. The acquistion of Fox Family Worldwide, which includes the Fox Family Channel, 76 percent of Fox Kids
Europe, Fox Kids channels in Latin America and the Saban Library and Entertainment Productions Business−−with its
more than 6,500 episodes of children's and family−friendly programming. Since Eisner joined Disney, the company's
annual revenues have grown from $1.7 billion to $25.4 billion, operating income has gone up from $291 million to to
$4.08 billion, and its stock price has risen some 30 times. Eisner is the author of a book, Work in Progress, which he
wrote with Tony Schwartz about his involvement in the entertainment industry. Born March 7, 1942 in New York, he
graduated from Lawrenceville School in 1960 and Denison University in 1964 with a B.A. in English literature and
theater. He serves on the boards of California Institute of the Arts, Denison University, American Hospital of Paris
Foundation, Conservation International, the UCLA Executive Board for Medical Sciences and the National Hockey
League. He has established and funded The Eisner Foundation, a philanthropic organization headed by his wife, Jane. He
and Jane have three sons, Breck, Eric and Anders.
Source: Company Web Site, 2002
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Robert A. (Bob) Iger, Age 53
President, COO, and Director, $1,394,231 salary, $4,000,000 bonus
Recent Work Highlights
• The Walt Disney Company
♦ 2002: President, COO, and Director, $1,000,000 salary, $3,000,000 bonus
♦ 2001: President, COO, and Director, $1,000,000 salary
Biography
Robert A. Iger was named president and chief operating officer of The Walt Disney Company in January, 2000. At that
time, he also became a member of Disney's board of directors and of its executive management committee. Iger had been
chairman of the Disney−owned ABC Group, where he guided the complex merger of ABC with The Walt Disney
Company. Simultaneously, he was president of Walt Disney International, where he created an organization embracing
Europe, the Asia−Pacific Region and Latin America. His mission for Walt Disney International was to establish Disney's
brand on a worldwide basis and consolidate international operations under a coordinated leadership. As Disney's president
and chief operating officer, Iger works with Michael D. Eisner, chairman and chief executive officer, in overseeing all
aspects of The Walt Disney Company's operations on a worldwide basis. The heads of all of Disney's business units and
its chief strategic officer report to both Eisner and Iger. Iger first became part of Disney's management team in 1996,
when The Walt Disney Company acquired Capital Cities/ABC, where Iger had been president and chief operating officer.
During Iger's years with ABC, he obtained hands−on experience in virtually every aspect of the television network
business, including news, sports and entertainment, as well as the business side of television such as program acquisition,
rights negotiations and business affairs. ABC saw tremendous growth during Iger's career there, becoming a market leader
in network television and expanding into numerous cable and related ventures, including A&E, The History Channel,
Lifetime, ESPN and ESPN−related businesses. He began his career at ABC in 1974 as a studio supervisor in New York,
then moved to ABC Sports, where he advanced over a 12−year period through a series of increasingly responsible
management posts. He became vice president of programming, responsible for all scheduling and program acquisitions for
ABC Sports in 1987. He left ABC Sports in 1988 for a promotion to executive vice president of the ABC Television
Network and became president of ABC Entertainment in Los Angeles a year later. Iger was promoted to president to the
ABC Television Network Group in New York in 1993 and was named president and chief operating officer of ABC in
1994. He is a member of the board of directors of Lincoln Center for the Performing Arts, Inc. and New York City
Outward Bound. He is a trustee of the Museum of Television and Radio and of Ithaca College, where he graduated magna
cum laude. A native of New York, Iger was born February 10, 1951. He has two daughters, Kate and Amanda, and a son,
Max. He is married to Willow Bay, co−anchor of CNN Moneyline.
Source: Company Web Site, 2002
Thomas O. (Tom) Staggs, Age 41
SEVP and CFO, $841,827 salary, $1,000,000 bonus
Recent Work Highlights
• The Walt Disney Company
♦ 2002: SEVP and CFO, $700,000 salary, $750,000 bonus
♦ 2001: SEVP and CFO, $700,000 salary, $1,000,000 bonus
Report Builder − The Walt Disney Company − Hoover's Online
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Biography
Thomas O. Staggs is senior executive vice president and chief financial officer of The Walt Disney Company and is a
member of the company's executive management committee. He oversees the company's worldwide finance organization,
controller functions, acquisitions, investor relations, treasury and risk management activities, information systems, real
estate and taxes. He also represents Disney on the Supervisory Board of Euro Disney S.C.A., which owns and operates
Disneyland Resort Paris. Staggs joined Disney in 1990 as a manager of strategic planning and soon advanced through a
series of positions of increased responsibility, becoming senior vice president of strategic planning and development in
1995. He was appointed executive vice president and chief financial officer in 1998, and assumed his current title in
January, 2000. He played an important role in a wide variety of Disney's strategic and operating initiatives and various
Disney strategic joint ventures and corporate transactions, including the acquisition of Capital Cities/ABC, the creation of
the Mighty Ducks hockey franchise, and the sale of the ABC publishing assets. More recently, Staggs has spearheaded the
Company's efforts to drive greater cost and capital efficiency throughout the organization. Born in Illinois, Staggs
received a B.S. degree in business from the University of Minnesota and an MBA from the Stanford Graduate School of
Business. He worked in investment banking with Morgan Stanley & Co. before joining Disney. He currently resides in
Los Angeles with his wife and two children.
Source: Company Web Site, 2002
Peter E. Murphy, Age 41
SEVP and Chief Strategic Officer, $841,827 salary, $1,000,000 bonus
Recent Work Highlights
• The Walt Disney Company
♦ 2002: SEVP and Chief Strategic Officer, $700,000 salary, $750,000 bonus
♦ 2001: SEVP and Chief Strategic Officer, $700,000 salary, $1,000,000 bonus
Biography
Peter E. Murphy is senior executive vice president and chief strategic officer of The Walt Disney Company and is a
member of the company's executive management committee. He is responsible for strategic analysis, business
development and long term planning for the growth of Disney's global businesses. Murphy joined Disney's Strategic
Planning department in 1988 as a senior planning analyst and advanced through a series of positions of increased
responsibility, becoming a senior vice president of strategic planning and development in 1995. In 1997, Murphy became
senior vice president and chief financial officer for ABC, Inc., after having helped with Disney's acquisition of ABC and
the integration of the two organizations. He was promoted to executive vice president and chief strategic officer for The
Walt Disney Company in May, 1998, and received his current title in January, 2000. Murphy worked with Disney
business units in developing international television strategy, including plans to launch The Disney Channel in the United
Kingdom and in Asia. He also initiated plans that led to the purchase of Miramax Films and contributed heavily to the
joint venture that brought the Super RTL television channel in Germany. Before joining Disney, Murphy was an executive
with Strategic Planning Associates. He holds a bachelor's degree from Dartmouth College, and an MBA from the Wharton
School of Business. Murphy was born in Boston November 10,1962. He and his wife, Ann have two children and live in
the Los Angeles area.
Source: Company Web Site, 2002
Report Builder − The Walt Disney Company − Hoover's Online
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Alan N. Braverman, Age 56
SEVP and General Counsel, $685,291 salary, $700,000 bonus
Biography
In his new position, Braverman will be the chief legal officer of the company and will oversee its team of attorneys
responsible for all aspects of Disney's legal affairs around the world. Braverman will report to both Eisner and Iger.
Previously, Braverman was executive vice president and general counsel, ABC, Inc. and deputy general counsel, The
Walt Disney Company. In that capacity he oversaw the legal affairs of the ABC Broadcast Group, ESPN and Disney/ABC
Cable, as well as labor relations. In August 1996, prior to Disney's acquisition of ABC, Inc., Braverman was named senior
vice president and general counsel, ABC, Inc. In October 1994, he was promoted to vice president and general counsel.
He joined ABC, Inc. in November 1993, as vice president and deputy general counsel. In his positions with ABC, Inc. Mr.
Braverman had broad responsibilities for the operation of the legal department, for government relations and for the
Corporation's legal affairs. During his tenure at ABC, Braverman guided the company through numerous lawsuits
regarding news reporting and news gathering practices, supervised the company's labor department, and oversaw the
government relations function for Capital Cities/ABC, Inc. prior to its merger with Disney. Braverman joined Capital
Cities/ABC, Inc. from the Washington, D.C. law firm of Wilmer, Cutler & Pickering, where he started in 1976. He
became a partner in 1983, specializing in complex commercial and administrative litigation. Before joining Wilmer,
Cutler & Pickering, Braverman was a law clerk to the Honorable Thomas W. Pomeroy, Jr., Justice, Pennsylvania Supreme
Court. Braverman, a native of Boston, Massachusetts, received a B.A. degree from Brandeis University in 1969 and
subsequently worked for two years as a Vista volunteer in Gary, Indiana. In 1975, he received a J.D. degree summa cum
laude from Duquesne University in Pittsburgh, where he was also editor−in−chief of the Law Review.
Source: Company Press Release, January 28, 2003
Preston Padden, Age 55
EVP Worldwide Government Relations
Biography
Preston Padden became executive vice president of worldwide government relations for The Walt Disney Company in
July, 1998. Based in Washington, D.C., he works with all business units of The Walt Disney Company in their
interactions with the U.S. government and those of other countries. Previously he was president, ABC Television
Network. Before joining ABC in 1997, Padden was chairman and chief executive officer of American Sky Broadcasting
(ASkyB), a satellite television joint venture between News Corporation and MCI. Prior to joining ASkyB, he had served
as president, telecommunications and television, for News Corporation, having joined Fox Broadcasting Company in
January, 1990, as senior vice president, Affiliates. Born on November 26, 1948 in Washington, D.C., he received his
undergraduate degree from the University of Maryland and his law degree from George Washington University in
Washington, D.C. Padden and his wife Barbara are the parents of three children and live in Potomac, MD.
Source: Company Web Site, 2002
Zenia Mucha
SVP Corporate Communications
Report Builder − The Walt Disney Company − Hoover's Online
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Biography
Ms. Mucha will assume overall responsibility for both the communications policies and strategic positioning of The Walt
Disney Company and its diverse global business segments, which include Media Networks, Parks and Resorts, Studio
Entertainment and Consumer Products. She will oversee media relations, financial communications and employee
communications, in addition to setting direction for overall corporate positioning. Ms. Mucha will be chief spokesperson
for The Walt Disney Company and will continue to be based in Los Angeles. Ms. Mucha has been senior vice president,
Communications, for the ABC Broadcast Group and the ABC Television Network since joining the Company in
February, 2001. She will continue to have an active role in the overall communications management of these areas. Her
responsibilities have included the development, implementation and oversight of internal and external communications for
the ABC Broadcast Group, the ABC Television Network and other ABC divisions. She also has supervised various other
activities, such as public service campaigns, audience information, internal publications and the ABC Foundation. Earlier
in her career Ms. Mucha served first as director of communications and then as senior policy advisor to Governor George
Pataki of New York State, where she earned a national reputation for her expert communications and political skills. She
joined Governor Pataki in 1994 and is widely credited with helping the former State Senator achieve the recognition
necessary to win the gubernatorial election. Ms. Mucha counseled Governor Pataki on a broad range of public policy and
other issues. She also successfully positioned him for his first re−election campaign as Governor. Prior to joining the
Pataki administration, Ms. Mucha served as press representative and then communications director to former United
States Senator Alfonse D'Amato. Ms. Mucha managed Senator D'Amato's two successful re−election campaigns, in 1986
and 1992.
Source: Company Press Release, May 9, 2002
John M. Renfro
SVP Human Resources
Biography
Renfro has been senior vice president of human resources for Gateway, Inc., a technology and personal computer
company based in San Diego. As chief human resources officer at Disney, Renfro will be responsible for areas that
include managing Disney's employee communications, culture and organization development, employee education and
development, staffing, diversity, compensation and benefits, and employee relations. The heads of human resources in
Disney's business units will report to Renfro as well as to the senior executives of their respective business units. Prior to
joining Gateway, Renfro was senior vice president of human resources and administration for Zenith Electronics Corp. in
Chicago. Previously, he held increasingly responsible human resources management positions at Ameritech, Dun &
Bradstreet and A.C. Nielsen. These latter positions offered him experience managing human resources throughout the
Asia−Pacific region, Africa and Latin America. Renfro holds a B.S. degree in administrative sciences from Southern
Illinois University in Carbondale.
Source: Company Press Release, March 14, 2002
David K. Thompson
SVP, Deputy General Counsel − Corporate, and Secretary
Biography
David K. Thompson has been named senior vice president, deputy general counsel − Corporate, and corporate secretary.
Report Builder − The Walt Disney Company − Hoover's Online
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In addition to his existing responsibilities as corporate secretary, Thompson will oversee the company's corporate and
transactional work, public reporting, corporate finance, corporate real estate and development and Walt Disney
Imagineering legal affairs. He joined Disney in 1989, and received his J.D. from Columbia University School of Law in
1980.
Source: Company Press Release, June 17, 2003
Terri A. Southwick
SVP and Deputy General Counsel − Intellectual Property
Biography
Terri A. Southwick, an experienced attorney with expertise in the field of intellectual property, has joined the company as
senior vice president and deputy general counsel − Intellectual Property. She will oversee the Intellectual Property,
Technology and Patents, Music and Consumer Products groups. Before joining Disney, she served the company for seven
years as outside counsel in Washington, D.C., during which time she was also a Senior Lecturing Fellow in digital
technologies at Duke University Law School and an Adjunct Professor of copyright law at Georgetown University Law
Center. Before that, she was an attorney−advisor at the U.S. Patent and Trademark Office. She received her J.D. in 1985
from Duke.
Source: Company Press Release, June 17, 2003
Edward J. Nowak
SVP and Deputy General Counsel − Litigation and Employment
Biography
Edward J. Nowak has been promoted to senior vice president and deputy general counsel − Litigation and Employment.
He will oversee Disney's entire litigation and employment practice, as well as the Benefits, Immigration and
Environmental groups in the corporate legal department. An 18−year veteran of Disney, Nowak received his J.D. in 1974
from Columbia University School of Law.
Source: Company Press Release, June 17, 2003
Chris Curtin
VP Corporate Synergy and Special Assistant to the Chairman
Biography
Curtin had served since last year as director, government relations, based in Disney's Washington, D.C., office. In that
position, he was responsible for a wide range of legislative, regulatory and human−resources issues affecting Disney. In
addition, he spearheaded a variety of corporate initiatives, including special events such as the Washington, D.C.,
premiere of Disney's hit film ``Remember the Titans,'' and the company's involvement in ``GetNetWise,'' an Internet
initiative dedicated to providing resources and tools to help ensure child safety online. Curtin joined Disney in 1995 as
representative, government relations, and was named senior legislative analyst, government relations, in 1997. Previously,
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he was an associate with Robinson Lake Sawyer Miller, a strategic communications firm with offices in Washington,
D.C., and New York City. He graduated from Denison University with a bachelor of arts degree and received a juris
doctor degree from the Georgetown University Law Center.
Source: Company Press Release,
Susan Fox
VP Government Relations
Biography
Most recently, Fox served as deputy chief, mass media bureau at the Federal Communications Commission (FCC) where
she led a commission−wide task force on digital television. She also directly managed the mass media bureau's policy
division, political programming office and Equal Employment Opportunity branch. Previously, she served as senior legal
advisor to FCC Chairman William Kennard.
Source: Company Press Release,
Richard W. Cook, Age 52
Chairman, The Walt Disney Studios
Other Company Affiliations
Company
Title
Walt Disney Studio Entertainment
Chairman, The Walt Disney Studios
Salary
Bonus
Recent Work Highlights
• Walt Disney Studio Entertainment
♦ Title held until 2002: Chairman, Walt Disney Motion Pictures Group
Biography
Richard Cook, chairman of The Walt Disney Motion Pictures Group, oversees domestic theatrical marketing and
distribution, international marketing and distribution, and feature film acquisitions; is in charge of the Studio's worldwide
home video operations; and heads production for the Walt Disney, Touchstone and Hollywood Pictures banners.
A 30−year Disney veteran, Cook began his career in 1970 as a ride operator at Disneyland. In 1971, he became a
Disneyland sales representative and was promoted three years later to manager of sales for the Anaheim−based theme
park. Moving to the Studio in 1977, Cook served as manager, pay television and non−theatrical releases and was
responsible for the early planning stages of The Disney Channel. In 1980, he was named assistant domestic sales manager
for Buena Vista and subsequently became vice president and general sales manager, and then senior vice president,
domestic distribution for Buena Vista Pictures. He assumed the role of president of Buena Vista Pictures Distribution in
1988 and added marketing to his areas of responsibility with his promotion in 1994.
Under Cook's leadership, Buena Vista Pictures Distribution was the #1 domestic distributor in 2000, as it has been for
seven of the past ten years. During his tenure as chairman, the Studio has had such major box office successes as "101
Dalmatians," "Ransom," "Con Air," "Hercules," "George of the Jungle," "Flubber," "The Horse Whisperer," "Six Days,
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Seven Nights," "Mulan," "Armageddon," "The Parent Trap," "A Bug's Life," "The Sixth Sense," "Tarzan," "Toy Story 2,"
"Fantasia/2000," "Gone in Sixty Seconds," "Dinosaur," and "Remember the Titans."
As president of Buena Vista Pictures Distribution, Cook oversaw the release of such hit films as "Down and Out in
Beverly Hills," "Three Men and a Baby," "Good Morning, Vietnam," "Dead Poets Society," "Honey, I Shrunk the Kids,"
"The Little Mermaid," "Pretty Woman," "Beauty and the Beast," "Father of the Bride," "The Hand That Rocks the
Cradle," "Sister Act," "Aladdin," "The Lion King" (the Studio's top−grossing film and one of the industry's all−time
biggest releases) and "Pocahontas."
As president of Buena Vista Pictures Distribution and Marketing, Cook was also responsible for overseeing the campaigns
for such major hits as "The Santa Clause," "While You Were Sleeping, " "Crimson Tide," "Mr. Holland's Opus," "Toy
Story," "The Rock," "Phenomenon" and "The Hunchback of Notre Dame."
Cook was also responsible for giving in−theater showmanship a major boost with the elaborate two−year restoration of
Hollywood Boulevard's classic movie palace, The El Capitan, and its subsequent live stage productions which accompany
special releases. The only theater of its kind in the country to ever be restored as a first−run motion picture palace, the El
Capitan has received landmark status for its museum−grade preservation, and has won many conservancy awards. The
theater itself has set numerous industry records and has consistently broken its own house records since its 1991 opening.
Additionally, he helped to give Disney's 1995 animated release, "Pocahontas," an unprecedented launch with a 23−City
Mall Tour, a world premiere (the world's largest) in Central Park and a six−city exclusive engagement featuring a live
stage show. The following year, "The Hunchback of Notre Dame" was launched in grand style with an elaborate New
Orleans premiere, complete with Mardi Gras−style parade and a Superdome screening. In 1997, "Hercules" captured the
world's media spotlight as millions lined the streets of Manhattan to see a special themed edition of Disneyland's famous
Main Street Electrical Parade. The release of "Mulan" in 1998 continued the tradition of great showmanship with a gala
outdoor premiere at the Hollywood Bowl.
A graduate of the University of Southern California, Cook is a member of the Academy of Motion Picture Arts and
Sciences, and sits on the board of directors of The Will Rogers Foundation and the Foundation of Motion Picture
Pioneers. He is a trustee of the University of Southern California and also served as president for the USC Alumni
Association. Additionally, he is president of the board of trustees of Flintridge Preparatory School and is the recipient of
the George Washington Medal of Freedom from the Freedom Foundation of Valley Forge.
Source: Company Web Site, 2002
Bob Weinstein, Age 47
Co−Chairman, Miramax Film Corp.
Other Company Affiliations
Company
Title
Miramax Film Corp.
Co−Chairman
Walt Disney Studio Entertainment
Co−Chairman, Miramax Film Corp.
Salary
Bonus
Read the offsite biography
Report Builder − The Walt Disney Company − Hoover's Online
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Harvey Weinstein, Age 51
Co−Chairman, Miramax Film Corp.
Other Company Affiliations
Company
Title
Miramax Film Corp.
Co−Chairman
Walt Disney Studio Entertainment
Co−Chairman, Miramax Film Corp.
Salary
Bonus
Read the offsite biography
Martin A. Sklar
Vice Chairman and Principal Creative Executive, Walt Disney Imagineering
Other Company Affiliations
Company
Title
Salary Bonus
Walt Disney Parks & Resorts Vice Chairman and Principal Creative Executive, Walt Disney
Imagineering
Biography
Martin A. Sklar, Vice Chairman and Principal Creative Executive of Walt Disney Imagineering (WDI), has worked for
The Walt Disney Company continuously since 1956. From September 1987 to May 1996, when he was promoted to Vice
Chairman, Marty served as President of the Imagineering subsidiary, the Disney organization responsible for the creation
and expansion of the company's theme parks and a variety of new Disney creative initiatives. In May 1996, when the
Disney Development Company (DDC) and WDI were combined into one organization, he was named to his present
responsibilities. Marty became an officer of WED Enterprises (as Walt Disney Imagineering was then called) in 1974,
when he was appointed Vice President, Concepts/Planning, a role in which he guided the creative development of Epcot
at The Walt Disney World Resort in Florida. In 1979 he became Vice President of Creative Development; in 1982 he was
appointed Executive Vice President, and in 1987 became Imagineering's President. As Vice Chairman, Marty provides
leadership for the Imagineering creative staff, which is charged with delivering breakthrough entertainment concepts for
Disney's Theme Parks and attractions. Today, Imagineering is responsible for every project, from idea through field
construction, that goes into the present Disney Theme Parks (Disneyland in California; The Magic Kingdom, Epcot,
Disney−MGM Studios, and Disney's Animal Kingdom at Walt Disney World in Florida; Tokyo Disneyland in Japan; and
Disneyland Paris in France) and future projects for each, including Disney's California Adventure, opening in 2001
adjacent to Disneyland; Tokyo DisneySea, opening in the same year adjacent to Tokyo Disneyland; and Disney Studios
Paris, opening adjacent to Disneyland Paris in 2002. Imagineering is also responsible for the creative development of
ideas and concepts for many other new Disney initiatives, including projects for Regional Entertainment (see
DisneyQuest, opened in 1998 at Walt Disney World, and in 1999 in Chicago), new flagship stores for The Disney Store
(see the 5th Avenue Store in New York City), design and construction of the Disney Cruise Line ships, creation of Disney
resort hotels (designed by world−famous architects), ideas for Disney sports initiatives, and many more. Marty originally
joined the Disney organization for a brief stint a month before Disneyland opened in July 1955. At that time, he was a
student at UCLA, recruited by former Disney Chief Executive Officer E. Cardon Walker, while Marty was serving as
editor of the Daily Bruin student newspaper. Returning to finish his senior year after Disneyland's first summer, he
graduated from UCLA and took a position as assistant news editor of MAC (Media Agency Clients) Publications, a
Report Builder − The Walt Disney Company − Hoover's Online
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leading advertising trade journal. In September 1956, Marty returned to Disneyland, where he assumed responsibility for
most of the Park's publicity and marketing materials, including the establishment of the highly successful Vacationland
magazine. Joining WED Enterprises in 1961, he was part of the team assigned by Walt Disney to develop
industry−sponsored shows and pavilions for General Electric, Ford, Pepsi−Cola/UNICEF and the State of Illinois at the
1964−65 New York World's Fair. During the late 1950s and 1960s, until Walt Disney's death in 1966, Marty wrote
personal materials for the "Showman of the World", for use in publications, television and special films. These included a
20−minute film devoted entirely to communicating Walt Disney's visionary concepts for the Epcot project. "Working with
Walt Disney was the greatest 'training by fire' anyone could ever experience," Marty says. "Our training was by Walt, who
was always there pitching in with new ideas and improving everyone else's input, like a master chef brewing a new recipe.
The fire was that we were constantly breaking new ground to create deadline projects never attempted before in this
business. That, I'm proud to say, has never stopped in my more than 40 consecutive years at Disney." In addition to his
concepts and writing contributions for Disney Theme Park shows, Marty has written and produced films, television shows
and major presentations communicating Disney projects to the public, industry, government and professional
organizations. From the 1960s to the 1990s, Marty was Imagineering's primary strategist in relations with American
industry in the development of sponsored attractions for Disneyland and the Walt Disney World Theme Parks, with
emphasis on Epcot. Corporations now participating in Disney's U.S. parks include many of America's leading companies:
AT&T, American Express, Coca−Cola, Exxon, Federal Express, General Motors, Kodak, Nestle USA and MetLife,
among others. "I have been truly blessed to spend almost my entire career working with the creative talent of Walt Disney
Imagineering − artists, designers, architects, engineers, writers and many other disciplines. Just coming to work has been
an exciting new adventure every day. Today, with Michael Eisner providing the corporate leadership, Disney has to be
one of the most exciting places in the world for creative people. The opportunities for growth − both personal and
corporate − are enormous. We are 'dreamers and doers'." Marty has been a featured speaker at art, design and
recreation−related conferences, among them the American Institute of Architects annual convention, the Art Directors
Club of Boston, the American Association of Museums, the Annual Conference of the Association of Science and
Technology Centers, the National Recreation and Parks Association Convention, the Getty Center for Education in the
Arts, the Southeastern Museums Conference, the annual IAAPA Panel on Entertainment, Cal Poly Pomona's Advanced
Management Executive Series, the UCLA Extension Conference − "Business and Design Issues in Themed
Entertainment" and Stanford University's Law School, where he travelled many times for a dialogue with a graduate class
in business. He has also spoken to gatherings of key executives from Exxon, IBM, Ford and other companies, and is a
popular speaker at such Disney "fan clubs" as the annual Disneyana Convention and the National Fantasy Fan Club
(NFFC). "Our guests in the Disney Parks − and the audiences I speak to − respond to what I call 'Mickey's Ten
Commandments': the do's and don'ts of Disney creativity and communications as I understand and practice them after 40
years of 'training by fire'." Before moving to Los Angeles in 1986, Marty was twice elected (1969 and 1973) to the Board
of Education of the Anaheim (CA) City School District and served two terms as board president. He was also elected to
two terms as president of the Orange County (CA) School Board Association; was an Anaheim City Commissioner (Parks
and Recreation and Cultural Arts Commissions); was the founding chairman of the "Michael L. Roston Creative Writing
Awards", an annual competition sponsored by the Anaheim Public Library; and was the 1977 recipient of the
"Community Service Award for Anaheim", presented by Cypress College. In the 1990s, Marty was honored in July, 1995
as a "Disney Legend" by the National Fantasy Fan Club; and in September, 1995 became only the second recipient of the
"Lifetime Achievement Award" presented by the Themed Entertainment Association (TEA). Marty also served two terms
on the Board of The Manned Space Flight Education Foundation, Inc. formed to create "Space Center Houston", which
opened in October 1992. He has been married to his wife Leah since 1957. They have two children: Howard, who recently
completed his Master's Degree at the Graduate Theological Union in Berkeley and is currently teaching and living with
his family in Helsinki, Finland; and Leslie Sklar Dahan, a former story analyst in the motion picture industry who lives
with her family in Los Angeles. They also have four grandchildren. Mrs. Sklar has also served in the community, most
notably as a member of the Orange County Commission on the Status of Women, including two years as its chairwoman.
Most recently, the Sklars have been instrumental in creating the Ryman Program for Young Artists, named in honor of the
quintessential Imagineering artist Herbert D. Ryman who created the first visual depiction of Disneyland for Walt Disney.
The Ryman Program is a project of the Ryman−Carroll Foundation, which Marty serves as President. Its purpose is to
teach "traditional" drawing and painting skills to talented young artists in Southern California. The program, filling a void
in public art education, is now in its ninth year and continuously serves more than 100 high school artists with
wide−ranging ethnic and cultural diversity. For 1994 and 1995, a Ryman Program student was selected to receive the
Governor's Award as the Outstanding Student Artist in the State of California. Extending their commitment to young
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talent, the Sklars have established the annual "Martin and Leah Sklar Scholarship for Ryman Program Graduates" at
CalArts, in Valencia, California.
Source: Company Web Site, 2002
Anne M. Sweeney
President, ABC Cable Networks Group and Disney Channel Worldwide
Other Company Affiliations
Company
Title
ABC Cable Networks Group
President, ABC Cable Networks Group and Disney Channel Worldwide
ABC, Inc.
President, ABC Cable Networks Group and Disney Channel Worldwide
Salary Bonus
Biography
Anne Sweeney has been president of the ABC Cable Networks Group and president of Disney Channel Worldwide, since
October, 2000. Sweeney had held the title of president of Disney/ABC Cable Networks and president of Disney Channel
since 1998, with responsibility for ABC's interests in Lifetime, A&E, the History Channel and E! Entertainment
Television and overseeing operation of Disney Channel in the U.S.; Toon Disney, the all−animation channel; and
SoapNet, the 24−hour soap opera network. She has the added responsibility of overseeing all Disney Channels worldwide
and all Disney−branded blocks of programming on cable and network television. Sweeney oversees 13 International
Disney Channels, including those in the United Kingdom, Germany, Spain, Australia, Singapore, Taiwan, the Middle East
and Latin America. Sweeney was named president, Disney Channel, and executive vice president, Disney/ABC Cable
Networks, in February 1996. As president of Disney Channel, Sweeney headed one of the fastest growing networks in
cable, the only full−time general entertainment television network designed for kids and families. Under her leadership,
Disney Channel grew its subscriber base from 14 million to 70 million homes with its mix of family entertainment,
original series, movies and specials. In April 1998, Sweeney oversaw the successful launch of the all−animation channel
Toon Disney and in January 2000 she oversaw the launch of SoapNet. Sweeney joined the company from FX Networks,
Inc. where she had been chairman and chief executive officer since 1993. During her tenure at FX, Sweeney presided over
the launch of two basic cable networks: FX, an entertainment network representing the most successful basic cable launch
in history; and FXM: Movies from Fox, Hollywood's first studio−based movie network. Prior to joining Fox in 1993,
Sweeney spent 12 years at Nickelodeon/Nick at Nite where she was senior vice president of Program Enterprises. At
Nickelodeon, she oversaw program acquisitions, sales, co−production and syndication of Nickelodeon programming. She
also oversaw international expansion, which included establishing Nickelodeon in the United Kingdom through a joint
venture with British Sky Broadcasting. Active in cable industry affairs, Sweeney is a board member of the Walter Kaitz
Foundation, which supports minorities in cable television. A founding member of Women in Cable and
Telecommunications, Sweeney was named the organization's Executive of the Year in 1994 and Woman of the Year in
1997. In 1995, she received the prestigious STAR Award from American Women in Radio and Television. Sweeney was
the 1998 recipient of the Advocate Leader Award, the highest award given by the Southern California Chapter of Women
in Cable and Telecommunications. Sweeney is a member of the Board of Directors for Special Olympics. She received a
B.A. degree from the College of New Rochelle and an Ed.M. degree from Harvard University. Sweeney and her husband,
Philip Miller, an attorney, and their two children reside in Los Angeles.
Source: Company Web Site, 2002
Walter C. Liss Jr.
President, ABC−Owned Television Stations
Report Builder − The Walt Disney Company − Hoover's Online
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Other Company Affiliations
Company
Title
Salary
ABC, Inc.
President, ABC−Owned Television Stations
Bonus
Biography
Walter C. Liss was named President, ABC Owned Television Stations, in May 1999. He had been Chairman, Buena Vista
Television, since October 1996. In his new position, Mr. Liss assumes responsibility for 10 ABC Owned Television
Stations: WABC−TV (New York), WLS−TV (Chicago), WPVI−TV (Philadelphia), WTVD (Durham−Raleigh),
KABC−TV (Los Angeles), KGO−TV (San Francisco), KTRK−TV (Houston), KFSN−TV (Fresno), WJRT−TV (Flint),
and WTVG (Toledo). This station group reaches almost a fourth of the nation's viewing audience. Previously, Mr. Liss
was responsible for Buena Vista Television and the Pay Television unit. Before that, he was President and General
Manager of WABC−TV since 1987. He joined Capital Cities Communications (now ABC, Inc.) in 1971. He started as
promotion manager at WPVI−TV in Philadelphia. In 1973, he moved to WKBW−TV, another Capital Cities station, in
Buffalo, New York, where he served as Program Director. He was promoted to Vice President and General Manager at
KFSN−TV, the Capital Cities owned station in Fresno, California, where he worked from 1975 to 1981. He subsequently
moved to Miami, Florida, where he became Vice President/General Manager at WPLG−TV, a Post−Newsweek
Television station. Mr. Liss served as President of the Broadcasting Division of Cox Enterprises, Inc. from 1983 to 1987.
In that capacity, he directed the operations of eight television stations, 12 radio stations and a national sales representative
firm. Mr. Liss' early years in the business were at John Blair and Company in New York, where he worked as Associate
Creative Director from 1969−71, and at Triangle Stations in Philadelphia, where he was Assistant National Promotion
Director from 1967 to 1969. He attended La Salle College in Philadelphia from 1961−1965, where he worked as
announcer for WIBF−FM − an interest started when Mr. Liss was 16 years old and hosted his own radio program. Mr.
Liss has been active in the communities in which he has worked. In New York, he was a member of the Mayor's Midtown
Citizens Committee; he serves on the Board of Directors for the Promesa Foundation and the Board of the Foundation for
Minority Interests in Media. He served as the 1992 dinner chair for the National Puerto Rican Forum's annual
achievement awards banquet, and he supports numerous other important civic organizations. In 1991, Mr. Liss received
the National Puerto Rican Forum's affirmative action award on behalf of WABC−TV; and in 1992 he received the Donald
H. McGannon Award for his contributions to the advancement of women and minorities in the media. The award was
given by the United Church of Christ. Mr. Liss and his wife, Lisa, have two sons, Brandon and Jonathan. Mr. Liss also has
two grown sons, Brian Christopher and Gregory.
Source: ABC Website, 2002
John Hare
President, ABC Radio
Other Company Affiliations
Company
Title
Salary
ABC, Inc.
President, ABC Radio
Bonus
Biography
John Hare was named President, ABC Radio, in February 1999. Mr. Hare is responsible for the ABC Radio division,
which consists of 44 radio stations − 26 AM and 18 FM − and the ABC Radio Networks, the largest commercial radio
network in the world. Mr. Hare had been Group President, ABC Owned Radio Stations since July 1997. In that capacity
he was responsible for all the radio stations in New York, Los Angeles, Dallas, Detroit and Washington, D.C. ABC also
owns radio stations in San Francisco, Chicago, Minneapolis, Atlanta, Seattle, Oakland, Cleveland, St. Louis, Phoenix and
Report Builder − The Walt Disney Company − Hoover's Online
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Denver. Mr. Hare is an executive with 30 years experience in radio. He began his broadcasting career in 1969 as an
account executive at KXYZ−AM/FM, former ABC radio stations in Houston. After a series of promotions, he moved to
Washington, D.C. as General Sales Manager of WRQX−FM. In 1980 he became Vice President and General Manager of
WRIF−FM in Detroit. He returned to Dallas−Fort Worth in 1984 when he was named Vice President and General
Manager of KTKS−FM, a former ABC radio station. In 1986 he was promoted to President and General Manager of
WBAP−AM in Dallas−Fort Worth. In 1996 he also took over as President and General Manager of KSCS−FM,
Dallas−Fort Worth, and assumed managerial responsibility for the Company's stations in Detroit. ABC Radio is a unit of
ABC, Inc., an indirect subsidiary of The Walt Disney Company. ABC Radio owns 44 radio stations, 26 AMs and 18 FMs,
throughout the United States, reaching over 14 million listeners weekly. The division also includes ABC Radio Networks.
ABC Radio Networks is the largest radio network in the United States, with an estimated audience of 144 million persons
per week and is heard in over 90 countries. ABC Radio Networks broadcasts five full−service line networks, Paul Harvey
News & Comment, the ESPN Radio Network, Tom Joyner Morning Show and American Country Countdown with Bob
Kingsley, ABC Radio's 24−hour formats, ABC News, Sports, and daily and weekly features. ABC Radio Networks'
affiliate lineup consists of almost 9,000 program affiliations on 4,400 radio stations. A native of Detroit, Mr. Hare
graduated from Ferris State University, Big Rapids, Michigan, with a BS in marketing. He and his wife Joanne are the
parents of four children.
Source: ABC Website, 2002
Alex Wallau
President, ABC Television Network
Other Company Affiliations
Company
Title
Salary
ABC, Inc.
President, ABC Television Network
Bonus
Biography
Alex Wallau was named president, ABC Television Network, in June 2000. In this position he is responsible for all
business and programming areas of the ABC Television Network, including ABC Entertainment, ABC News, ABC
Sports, ABC Children's Programming and Daytime, as well as Finance, Research, Network Public Relations, Television
Network Sales, Affiliate Relations, Marketing, and Broadcast Operations and Engineering. Prior to this appointment he
had served as interim president. From August 1998 to March 2000, Mr. Wallau was president, ABC Television Network
Operations and Administration, responsible for Sales, Broadcast Operations and Engineering and Affiliate Relations. He
also worked on a broad range of policy, administrative and operational issues within the ABC Television Network. From
1996 to 1998 Mr. Wallau served as executive vice president of the Network, and as vice president from 1993. He began
his career with ABC Sports in 1976 as head of On−Air Promotion, and went on to become a two−time Emmy
Award−winning producer and director of ABC's sports coverage. In 1986 he moved in front of the cameras as ABC's
boxing analyst, and was honored by the Boxing Writers of America as the top television boxing journalist in his first year.
In addition to his management responsibilities, Mr. Wallau continues as ABC's on−air boxing analyst, serves on the Board
of Directors of ESPN and the Advertising Council, and is a member of the Los Angeles Board of Governors of the
Museum of Television and Radio. Born at Fort McPherson, Georgia, Mr. Wallau was raised in the Bronx and
Connecticut. He earned a BA degree from Williams College. He and his wife, Martha, live in Los Angeles.
Source: ABC Web Site, 2003
Nina R. Jacobson
Report Builder − The Walt Disney Company − Hoover's Online
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President, Buena Vista Motion Pictures Group
Other Company Affiliations
Company
Title
Buena Vista Motion Pictures Group
President
Walt Disney Studio Entertainment
President, Buena Vista Motion Picture Group
Salary
Bonus
Biography
Nina Jacobson is president of the Buena Vista Motion Pictures Group, responsible for developing scripts and overseeing
film production for Walt Disney Pictures, Touchstone Pictures and Hollywood Pictures. She has been with the studio
since February of 1998, where she supervised production of THE SIXTH SENSE and REMEMBER THE TITANS, as
well as PEARL HARBOR and THE PRINCESS DIARIES. Previously, Jacobson was a senior film executive at
DreamWorks, SKG, where she developed WHAT LIES BENEATH and originated the idea for DreamWorks' first
animated feature ANTZ. Prior to DreamWorks, Jacobson worked at Universal as senior vice president of Production,
where she was involved with the development and making of TWELVE MONKEYS, DAZED AND CONFUSED and
DRAGON − THE BRUCE LEE STORY. Jacobson started her career as a documentary researcher for Arnold Shapiro
Productions. In 1987, she joined the Disney Sunday Movie as a story analyst. In 1988, Jacobson moved to Silver Pictures
as Director of Development. She went on to head development at MacDonald/Parkes Productions, before leaving to join
Universal. She is a graduate of Brown University.
Source: Company Web Site, 2002
Thomas C. Schumacher, Age 44
President, Buena Vista Theatrical Productions
Other Company Affiliations
Company
Title
Walt Disney Studio Entertainment
President, Buena Vista Theatrical Productions
Salary
Bonus
Recent Work Highlights
• Walt Disney Studio Entertainment
♦ Title held until 2003: President, Buena Vista Theatrical Productions, Walt Disney Feature Animation, and
Walt Disney Television Animation
Biography
Schumacher joined Walt Disney Feature Animation in 1988 to produce "The Rescuers Down Under" and rose to president
of Feature Animation after having helped with the turnaround of Disney's animation activities. He has supervised 18 of
Disney's major animated films in recent years, including "Pocahontas," "Toy Story," "The Hunchback of Notre Dame,"
"Hercules," "Mulan," "A Bug's Life," "Tarzan," "Toy Story 2," "Dinosaur," "The Emperor's New Groove" and this
summer's hit "Lilo & Stitch," which has made nearly $250 million at the worldwide box office. Schumacher was
executive producer of the film "The Lion King." Further, he expanded Disney's Video Premieres business, as well as
Disney's television animation offerings, which air on Disney Channel and ABC−TV. Before joining The Walt Disney
Company, he enjoyed a distinguished 10−year career in the performing arts. As associate director of the acclaimed 1987
Los Angeles Festival of Arts, he was instrumental in presenting the American premiere of Canada's immensely popular
Report Builder − The Walt Disney Company − Hoover's Online
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Cirque du Soleil. Prior to the Los Angeles Festival, Schumacher spent five years on staff at the Los Angeles Music
Center's Mark Taper Forum. Schumacher worked on the 1984 Olympic Arts Festival and served as assistant general
manager of the Los Angeles Ballet. A graduate of UCLA, he currently serves on The Tony Administration Committee, the
Education Council and the Presentations Committee of the Performing Arts Center of Los Angeles County, and is a
trustee of Broadway Cares/Equity Fights AIDS.
Source: Company Press Release, January 3, 2003
Andrew P. (Andy) Mooney
President, Disney Consumer Products
Biography
Andy Mooney joined The Walt Disney Company in December 1999 as president of Disney Consumer Products. In this
role, he oversees the worldwide day−to−day operations of the division's six lines of business: Disney Apparel, Disney
Toys, Disney Hardlines, Disney Retail, Disney Interactive and Disney Publishing. Under Mooney's direction, Disney
Consumer Products' business has turned around through a variety of initiatives. He and his team have strengthened the
Disney brand at retail, transitioned the licensing business into a consumer products company focused on product
innovation and developed strong relationships with category leaders. Prior to joining Disney Consumer Products, Mooney
enjoyed a 20−year career with Nike, Inc., originally joining the company's United Kingdom division as chief financial
officer. Mooney transitioned to marketing in 1982, holding several senior positions before becoming chief marketing
officer for Nike in the United States in 1994. In 1999, Mooney became chief marketing officer and head of Global
Apparel. In this position, he assumed additional responsibilities for worldwide marketing strategies for the Nike and
Jordan brands, as well as the company's $3 billion global apparel business. He also led successful efforts to reorganize
Nike's brand marketing activities, including implementing new advertising strategies for the company. Mooney, a
musician and avid collector of vintage guitars, was born in 1955 in Whitburn, Scotland. He and his wife, Vizhier, reside in
Hollywood, Calif.
Source: Company Web Site, 2002
Karl Holz
President, Disney Cruise Line
Other Company Affiliations
Company
Title
Walt Disney Parks & Resorts
President, Disney Cruise Line
Salary
Bonus
Biography
Holz began his career with Disney at the Walt Disney World Resort in 1996 as vice president, Downtown Disney where
he oversaw the successful expansion of the shopping, dining and entertainment district. In 2000, Holz became the vice
president of Epcot and in 2001 was promoted to senior vice president of operations. Prior to joining Disney, Holz was
vice president of theme parks for Knott's Berry Farm and was also the president and COO with Sky Chefs/Concession
Air. Karl, born in Germany, has a B.S. in Business Administration from The State University of New York, Fredonia.
Source: Company Press Release, November 14, 2003
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Deborah Dugan
President, Disney Publishing Worldwide
Other Company Affiliations
Company
Title
Disney Publishing Worldwide
President
Salary
Bonus
Biography
Dugan joined Disney Publishing in 1998 as vice president of business development and strategic planning and was
promoted to senior vice president and managing director two years later. During this time, Dugan refocused the publishing
group from a licensing model to a content−driven model supporting the development of new ``tween'' properties, such as
international W.I.T.C.H. magazine and Volo, a new paperback series in the U.S. Dugan achieved substantial growth for
Disney's domestic magazine group, recently expanding the FamilyFun franchise with the launch of FamilyFun.com. And,
Disney's celebrated Hyperion Books for Children continues to be a creative magnet for new and established talent,
including Maurice Sendak, Toni Morrison and recent Caldecott award−winner Bryan Collier. A strong advocate for
Disney's learning projects, Dugan, a former teacher, spearheaded the acquisition of several key properties including
``Baby Einstein,'' and championed the growth of Disney's ``Magic English'' language−learning program. Before Disney,
Dugan held senior positions with EMI Records Group and worked as a corporate attorney on Wall Street. She received a
bachelor's degree in English and education from the University of Florida and a J.D. from the University of Utah College
of Law. Dugan serves on the boards of the Association of American Publishers and The Magazine Publishers of America.
Source: Company Press Release, March 5, 2002
Matthew A. Ouimet
President, The Disneyland Resort
Other Company Affiliations
Company
Title
Walt Disney Parks & Resorts
President, The Disneyland Resort
Salary
Bonus
Biography
Ouimet joined The Walt Disney Company in 1989 and over the last 14 years has held leadership positions in real estate
development, finance and business development. He has held a series of executive positions that include senior vice
president and chief financial officer at the Disney Development Company (now part of Walt Disney Imagineering) and
senior vice president of Finance and Business Development at the Walt Disney World Resort as well as executive general
manager of Disney Vacation Club and Disney's Wide World of Sports. Since becoming president of Disney Cruise Line in
1999, Ouimet oversaw the establishment of this exciting business as a successful element of the Walt Disney Parks and
Resorts portfolio. Under his leadership, the Disney Cruise Line grew into one of the country's premier cruise operators.
His focus on the guest experience has resulted in the highest guest satisfaction ratings of all of the Walt Disney Parks and
Resorts vacation experiences. Active in Florida's business community, Ouimet serves as the chairman of the Florida
Chamber of Commerce and on the Board of Directors for the International Council of Cruise Lines and the Floridian
Caribbean Cruise Association. A native of upstate New York, Ouimet is a graduate of Binghamton University. He and his
family will begin the transition to California immediately.
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Source: Company Press Release, October 14, 2003
George W. Bodenheimer
President, ESPN and ABC Sports
Other Company Affiliations
Company
Title
Salary
ABC, Inc.
President, ABC Sports and ESPN
ESPN, Inc.
President; President, ABC Sports
Bonus
Biography
An ESPN and industry pioneer, George W. Bodenheimer was named ESPN's fifth President on November 19, 1998.
Bodenheimer's path to leadership mirrors that of the company itself − with his sharp focus on creativity and cutting−edge
innovation, emphasis on always enhancing value, and conviction for teamwork.
As President, Bodenheimer oversees all of the company's domestic and international business entities − more than 40.
They include six domestic (ESPN, ESPN2, ESPN Classic, ESPNEWS, ESPN Extra and ESPN Now) and 19 international
television networks, pay−per−view packages, the Internet (ESPN.com), radio (ESPN Radio), print (ESPN The Magazine
and books), restaurants (ESPN Zone) and more. Bodenheimer, who joined the company in January 1981, had served as
Executive Vice President, Sales and Marketing for ESPN since September 1996.
Bodenheimer's contributions over the years have been integral to ESPN's success. His innovative business initiatives were
designed with one goal in mind − to bring greater value to all of ESPN's constituents: affiliates, advertisers, rightsholders
and ultimately consumers.
He has been strategically involved in the development of the ESPN domestic networks and product, especially the
creation and evolution of ESPN2, ESPN Classic and ESPNEWS, as well as with ESPN The Magazine, ESPN.com and
ESPN Radio. He led the most successful launch of a new network in the modern era of cable when ESPN2 debuted in 10
million homes in October 1993. ESPN2, the fastest growing network in the '90s, is the second largest sports network and
features a programming lineup on par with ESPN.
Prior to becoming President, Bodenheimer was responsible for affiliate sales, advertising sales, marketing and research for
all of ESPN's domestic networks. In 1995, Bodenheimer implemented an integrated sales and marketing unit to facilitate
multimedia buys across all of ESPN's franchises, the broadest portfolio in sports marketing. Through this approach,
ESPN's multimedia platforms provide the most effective and efficient sports marketing vehicle worldwide for advertisers
and affiliates.
Bodenheimer's leadership has been recognized throughout the industry. ESPN in 1995 earned the inaugural CAB Award
for Network Affiliate Sales Achievement, given to the network which supplies cable advertisers with the finest local
advertising support. In 1996, ESPN was named Cable Marketer of the Year by Advertising Age.
He chaired the Marketing Committee for the NCTA's successful "On Time Guarantee" initiative and led ESPN's
involvement in "Cable in the Classroom," the industry's educational effort, through the critically acclaimed SportsFigures,
a program that teaches math and science through sports. He also was instrumental in ESPN's co−sponsorship of the local
CableACE Awards and helped initiate ESPN and ESPN2's sponsorship of the annual "Good Sports Award," Beacon
Award honoring cable affiliates for exemplary community involvement through education and sports.
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Bodenheimer serves on the boards of NCTA (The National Cable Television Association), CTAM (the marketing society
for the cable and telecommunications industry), Cable in the Classroom and The V Foundation for cancer research which
ESPN founded with the late Jim Valvano. He is also a member of the board and secretary of the Cable Television
Advertising Bureau (CAB). He was named to the "CableFax 100" list of industry leaders in 1998 and 1999. He is a
member of the Cable Programming Committee of the Museum of Television and Radio.
Bodenheimer, who began his ESPN career in the administration department, held several executive positions in ESPN's
affiliate sales and marketing area throughout the 1980's, working in the company's Bristol, New York, Chicago, Denver
and Dallas offices. In 1982, he joined the affiliate marketing staff as marketing representative for ESPN's South Central
region. Bodenheimer was promoted to national accounts manager of the Rocky Mountain region (July 1985) and to
director, affiliate sales, Eastern division (February 1988). He was named vice president, affiliate sales, Eastern division in
July 1989 and was promoted to vice president, national affiliate sales in June 1991. Bodenheimer was named vice
president, affiliate sales and marketing in November 1992, and senior vice president, affiliate sales and marketing in
October 1993. He was appointed to senior vice president, sales and marketing in May 1995.
He was graduated from Denison University in 1980 with a Bachelor of Arts degree in economics. Bodenheimer is based
in New York but also works from ESPN's Bristol, Conn. headquarters.
Source: Company Web Site, 2002
David J. Stainton, Age 41
President, Walt Disney Feature Animation
Other Company Affiliations
Company
Title
Walt Disney Studio Entertainment
President, Walt Disney Feature Animation
Salary
Bonus
Recent Work Highlights
• Walt Disney Studio Entertainment
♦ Title held until 2003: President, Walt Disney Television Animation
Biography
Previously, Stainton served as president, Walt Disney Television Animation since January 2001. In that role, Stainton
oversaw the day−to−day operations for the division's animated television series, Disney Video Premieres and
DisneyToons. Stainton joined The Walt Disney Company in 1989 as manager of special projects for Walt Disney Pictures
and Television. In 1991, Stainton joined the Feature Animation department where he served in a series of positions, with
each new role increasing the scope of his responsibilities. In January 1998, Stainton was named senior vice president of
creative affairs for Walt Disney Feature Animation where he was charged with overseeing Disney's animation studio in
Paris. The facility houses 150 artists from 13 countries. During his tenure, Stainton worked with Schumacher on such
successful films as "The Lion King," "Toy Story," "Mulan," "Tarzan," "Hercules," "The Hunchback of Notre Dame,"
"Pocahontas," and "Dinosaur". Stainton holds a bachelor's degree from Princeton University and a master's degree in
Business Administration from Harvard.
Source: Company Press Release, January 3, 2003
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Andy Bird
President, Walt Disney International
Biography
Working in conjunction with business unit leaders around the world, Bird will be responsible for coordinating and
overseeing growth opportunities for Disney outside the United States, and for targeting new businesses, growing and
increasing penetration of existing businesses, and leading the development of business and operations in emerging
markets. For nearly a decade, Bird has been with Time Warner, joining in 1994 as senior vice president and general
manager of Turner Entertainment Networks Limited, the TBS Europe arm that produced Cartoon Network, which he
helped grow to 13 channels across Europe from one. He rose to president of TBS International in 2000, and became
responsible for all TBS broadcasting outside of the continental U.S. In addition, he was leading a new initiative for Time
Warner in the wireless arena, an area in which Disney has seen strong growth internationally, especially in Asia. Bird
started his career with Piccadilly Radio in Manchester, England, as breakfast show producer. After that, Bird moved to
London to join the Virgin Broadcasting Company working at Music Box, a Pan−European music channel. Later, Virgin
asked Bird to help launch and program a satellite−delivered national radio service called Radio Radio. Bird became Head
of Programming for the service producing radio shows for leading comedians and television presenters. Between 1989
and 1994, Bird held a number of positions in radio and television in Europe, including a helping start a music channel,
producing and directing a popular London−based morning TV program and producing a Saturday morning children's TV
show. In 1992, Bird was tapped by Unique Broadcasting, the largest independent radio production company in the United
Kingdom, to start up and operate Unique Television. A native of the U.K., Bird earned a Bachelor of Arts degree (with
honors) from the University of Newcastle Upon Tyne in 1985. He will be based in Burbank, California.
Source: Company Press Release, November 19, 2003
Stephen H. (Steve) Wadsworth
President, Walt Disney Internet Group
Other Company Affiliations
Company
Title
Walt Disney Internet Group
President
Salary
Bonus
Biography
Steve Wadsworth is president of the Walt Disney Internet Group (WDIG), which provides centralized strategic leadership,
business execution support and a world−class technology platform for all of the Internet properties of The Walt Disney
Company (TWDC). In addition to guiding the company's portfolio of Internet businesses, he has direct operational
responsibility for Disney.com worldwide, FamilyFun.com, Movies.com, DisneyAuctions and the wireless businesses for
all TWDC properties. WDIG is charged with developing and delivering new forms of interactive content and capabilities,
such as the Enhanced TV service, which showcases the convergence of video and interactive programming, and
broadband entertainment content, such as the new embedded web video. Wadsworth has seven years of Internet
experience, all at The Walt Disney Company. Named president of Disney's Internet unit in 1999, he is well versed in
Internet business and technology operations. He has played a critical role in leading the company's successful
consolidation of data centers, engineering, database management, ad sales and other core functions. Wadsworth joined
Disney Online, Disney's first Internet operation, at its inception in September 1995. Prior to being named president of
Disney's Internet operations, he served as senior vice president and chief financial officer, responsible for all strategic
planning, business development, technology operations, finance, accounting and administrative functions. He came to
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Disney Online from Disney Consumer Products, where he served as director of business planning. Before joining Disney
in 1993, Wadsworth was a principal for the Windsor Park Group in Los Angelesresponsible for providing strategic,
operational and financial management consulting services to companies primarily in the retail and consumer products
industries. Wadsworth is a frequent spokesperson on Internet issues and guest speaker at Internet industry forums. He
holds a B.S. in engineering from the University and received his M.B.A. from the UCLA Graduate School of
Management.
Source: Company Web Site, 2002
James A. (Jay) Rasulo, Age 46
President, Walt Disney Parks & Resorts
Other Company Affiliations
Company
Title
Walt Disney Parks & Resorts
President
Salary
Bonus
Biography
James A. Rasulo was named president of Walt Disney Parks and Resorts in September 2002. In his role as president, he is
responsible for Disney's renowned theme parks and resorts around the world−−Disneyland Resort in California, Walt
Disney World Resort in Florida, Tokyo Disney Resort and Disneyland Resort Paris in France. Rasulo also manages the
long−term growth and international expansion initiatives for the business, including the Hong Kong Disneyland Resort
scheduled to open in 2005/06. Rasulo also oversees the Disney Cruise Line; Walt Disney Imagineering, the organization
that designs and builds Disney theme parks, attractions and other facilities; Disney Regional Entertainment, including the
popular sports−themed restaurants, ESPN Zone; and Anaheim Sports Inc., the management company of the sports team
franchises, Major League Baseball's Anaheim Angels and the National Hockey League's Mighty Ducks. In 1998, Rasulo
moved to Paris to become executive vice president, Euro Disney S.C.A. and served as president and C.O.O. in 1999 until
being named chairman and CEO in May of 2000. He was best known for the many growth initiatives that transformed
Disneyland Paris into the top tourist destination in Europe. Rasulo was also at the helm during the March 2002 opening of
the Disneyland Paris Resort's second park, Walt Disney Studios, which marked the beginning of a new and exciting era.
In January of 2001, Rasulo welcomed the 100 millionth guest to the Disneyland Paris Park and celebrated its 10th
anniversary in 2002. During his tenure at Disneyland Resort Paris, Rasulo oversaw a massive period of real estate
development and signed four major hotel deals with European tour operators and hotel chains for the construction of two
thousand new hotel rooms on the Euro Disney property and surrounding area. Also under his leadership, the Disney
Village retail, entertainment and dining center expanded dramatically and saw record levels of revenue. Rasulo joined The
Walt Disney Company in 1986 as director and later became senior vice president of Corporate Strategic Planning, where
he led strategy development for all real estate−based businesses in The Walt Disney Company's portfolio. He was senior
vice president of Corporate Alliances from 1993 − 1995, organizing the sponsorship activities into a company−wide
strategic business unit. Rasulo also spent three years with Disney Regional Entertainment, where he was part of the
development of ESPN Zone. Prior to joining Disney, Rasulo worked for Chase Manhattan Bank as an exchange
rate/interest rate forecaster, and then became a manager of corporate planning for the Marriott Corporation. A native New
Yorker, Rasulo graduated from Columbia in 1978 with a degree in economics. He went on to earn an MA in Economics in
1982 and an MBA in 1984 both from the University of Chicago. Among Rasulo's many interests and affiliations, he is the
founding member of the Columbia University Club of France, and a board member for the American Chamber of
Commerce in France. Rasulo is bilingual in English and French.
Source: Company Web Site, 2002
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André Lacroix, Age 43
Chairman and CEO, Euro Disney
Other Company Affiliations
Company
Title
Euro Disney S.C.A.
Chairman and CEO
Walt Disney Parks & Resorts
Chairman and CEO, Euro Disney
Salary
Bonus
Biography
Lacroix has been President of Burger King International since 2001, and was responsible for the development,
management and profitability of the brand outside of North America. He has been recognized as one of the top leaders in
the industry by driving sustainable growth ahead of the market and his competitors. Lacroix joined Burger King in
September 1996 as General Manager for Germany and was appointed General Manager, Germany & Northern Europe in
June 1998. As the General Manager in Germany, he was the architect of the turnaround of this market, tripling the
business in the past five years. He was promoted to President Europe, Middle East & Africa in 1999. In this role, he
expanded the Burger King brand by entering into several new markets and introducing innovative new products. Prior to
his tenure at Burger King, Lacroix joined Pepsi Cola International in 1988 as International Marketing Manager of the 7UP
brand. In 1990, he became Marketing Director, Middle East & Africa, and in 1991, Lacroix was promoted to Operations
Director Pepsi, East Germany. Finally, he held the position of General Manager Pepsi, Holland, Austria, Belgium and
Switzerland from 1993 until 1996. He graduated from the Ecole de Commerce de Paris. He is a French native and speaks
five languages fluently.
Source: Company Press Release, March 28, 2003
Allen R. Weiss
President, The Walt Disney World Resort
Other Company Affiliations
Company
Title
Walt Disney Parks & Resorts
President, The Walt Disney World Resort
Salary
Bonus
Bruce Morrison
VP Retail Marketing, Disney Consumer Products
Biography
Morrison is charged with strengthening critical business relationships with DCP's key retailers in the United States, as
well as the company's global relationship with Wal−Mart International, and developing merchandising plans and
marketing objectives. He is the primary contact for marketing within each DCP line of business, including Disney Toys,
Disney Hardlines and Disney Softlines, as well as Disney Publishing and Disney Interactive, where appropriate, and will
manage country−specific retail marketing teams. He also continues to maintain responsibility for DCP's Canadian retail
Report Builder − The Walt Disney Company − Hoover's Online
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team. Morrison joined Disney's Buena Vista Home Entertainment division in Canada in 1995, handling the Costco and
Wal−Mart accounts, and by 1998 he was leading the national account sales team for the mass, club and department store
channels. In 1999, he joined DCP Canada as director of retail marketing and led the process of forging stronger
relationships with licensees and retailers. He was again acknowledged for his efforts in 2000 when he was promoted to the
position of managing director, licensing retail and marketing for DCP Canada. In this role, Morrison was instrumental in
solidifying direct−to−retail agreements with Wal−Mart and Zellers, two leading mass retailers in Canada, and developing
successful merchandise focused retail and consumer marketing initiatives. Prior to Disney, Morrison worked for Hallmark
Cards Canada, where he managed the marketing division for the specialty products brand. Morrison, a native of Toronto,
Canada, received an Honours Bachelor of Business Administration from Wilfrid Laurier University in Waterloo, Ontario,
Canada. He will relocate to the Los Angeles area with his wife and three children.
Source: Company Press Release, March 20, 2002
John E. Bryson, Age 60
Director
Other Company Affiliations
Company
Title
The Boeing Company
Director
Edison International
Chairman, President, and CEO; Chairman, Southern California
Edison and Edison Capital
Southern California Edison
Company
Chairman
Salary
Bonus
$1,020,000 $1,000,000
Recent Work Highlights
• Edison International
♦ 2001: Chairman, President, and CEO; Chairman, Edison Mission Energy and Edison Capital, $950,000
salary, $1,350,000 bonus
♦ Title held until 2003: Chairman, President, and CEO; Chairman, Edison Mission Energy and Edison
Capital
Biography
Mr. Bryson has served as Chairman of the Board, President and Chief Executive Officer of Edison International, the
parent company of Southern California Edison, an electric utility, since 1990. He is also a director of The Boeing
Company and Pacific American Income Shares, Inc./Western Asset Funds, Inc.
Source: Proxy, January 27, 2004
John S. Chen, Age 49
Director
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Other Company Affiliations
Company
Title
iAnywhere Solutions, Inc.
Chairman
Sybase, Inc.
Chairman, President, and CEO
Salary
Bonus
$821,500
$479,280
Recent Work Highlights
• Sybase, Inc.
♦ 2001: Chairman, President, and CEO, $821,500 salary, $314,635 bonus
♦ 2000: Chairman, President, and CEO, $775,000 salary, $1,019,900 bonus
Biography
Mr. Chen has been Chairman, Chief Executive Officer and President of Sybase, Inc., a software developer, since
November 1998. From February 1998 through November 1998, he served as co−Chief Executive Officer. Mr. Chen
joined Sybase in August 1997 as Chief Operating Officer and served in that capacity until February 1998. From March
1995 to July 1997, Mr. Chen was President of the Open Enterprise Computing Division, Siemens Nixdorf, a computer and
electronics company, and Chief Executive Officer and Chairman of Siemens Pyramid, a subsidiary of Siemens Nixdorf.
Source: Proxy, January 27, 2004
Judith L. Estrin, Age 49
Director
Other Company Affiliations
Company
Title
FedEx Corporation
Director
Salary
Bonus
Biography
Ms. Estrin is President and Chief Executive Officer of Packet Design, LLC, a company that she co−founded in May 2000
to develop networking technology. Ms. Estrin served as Chief Technology Officer and Senior Vice President of Cisco
Systems Inc., a developer of hardware and software to link computer systems, from 1998 until April 2000, and as
President and Chief Executive Officer of Precept Software, Inc., a developer of networking software of which she was
co−founder, from 1995 until its acquisition by Cisco in 1998. She is also a director of FedEx Corporation, an international
provider of transportation and delivery services.
Source: Proxy, January 27, 2004
Aylwin B. Lewis, Age 49
Director
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Other Company Affiliations
Company
Title
Salary
Bonus
A&W All−American Food CEO
Restaurants
Halliburton Company
Director
Long John Silver's
CEO
YUM! Brands, Inc.
President, Chief Multibranding and Operating Officer; CEO, A&W
All−American Food Restaurants and Long John Silver's
$445,000 $826,875
Recent Work Highlights
• YUM! Brands, Inc.
♦ Title held until 2003: COO
Biography
Mr. Lewis is President, Chief Multibranding and Operating Officer of YUM! Brands, Inc., a franchisor and licensor of
quick service restaurants including KFC, Long John Silvers, Pizza Hut, Taco Bell and A&W. Prior to being named
President, Chief Multibranding and Operating Officer in 2003, he was Chief Operating Officer of YUM! Brands since
2000 and Chief Operating Officer of Pizza Hut from 1996. Mr. Lewis is also a director of Halliburton Co.
Source: Company Press Release, January 27, 2004
Monica C. Lozano, Age 47
Director
Other Company Affiliations
Company
Title
Impremedia LLC
Publisher and CEO, <I>La Opinion</I>
UnionBanCal Corporation
Director
Salary
Bonus
Biography
Ms. Lozano is Publisher and Chief Executive Officer of La Opinión, the largest Spanish−language newspaper in the
United States, and Senior Vice President of its parent company, ImpreMedia, LLC. In addition, Ms. Lozano is a member
of the Board of Regents of the University of California and a trustee of the University of Southern California. She is a
trustee of SunAmerica Asset Management Corporation and a director of Union Bank of California, the California Health
Care Foundation and Tenet Healthcare Corporation.
Source: Proxy, January 27, 2004
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Overview
The monarch of this magic kingdom is no man but a mouse −− Mickey Mouse. The Walt Disney Company is the #2
media conglomerate in the world, behind Time Warner. Disney owns the ABC television network, 10 broadcast TV
stations, and more than 70 radio stations. It also has stakes in several cable channels such as ESPN (80%) and
AETelevision Networks (38%). Its Walt Disney Studios produces films through imprints Walt Disney Pictures,
Touchstone, Hollywood Pictures, and Miramax. Walt Disney Parks &Resorts, which includes Walt Disney World and
Disneyland, owns the most popular resorts in North America. Walt Disney Internet Group oversees the Mouse's Web
properties (ABC.com, Disney Online, ESPN.com).
The company has suffered in 2001−03 in virtually every business. ABC has been in a slump due to the soft advertising
market and low ratings. Despite early improvements in the 2002−03 season thanks to a strong new slate of sitcoms
including 8 Simple Rules and Life with Bonnie, the network still wallows in third place in the ratings (behind CBS and
NBC). Desperate to hang onto a hit show, ABC decided to continue producing 8 Simple Rules without star John Ritter,
who died suddenly in 2003.
In an effort to jumpstart its television business Disney bought the Fox Family Channel from News Corp. and Haim Saban
for $5.2 billion (including debt). It renamed the channel ABC Family, but the move has been criticized for a lack of
compelling programming on the network.
One area in which Disney has bounced back is in the movie business. For the past couple years the company was marred
by the mediocre performances of films such as Atlantis, Pearl Harbor, and Bad Company. And though the studio had
showed signs of life in late 2002 with some successful live action movies such as Signs and The Santa Clause 2, its
animated division released one of the company's biggest bombs, Treasure Planet. With a budget of $140 million, the film
opened with a tepid $17 million take in its first weekend of release. The disastrous performance forced Disney to lower its
earnings forecast for 2002. But in 2003, Disney's film releases topped the $3 billion mark, thanks to such hits as Pirates of
the Caribbean: The Curse of the Black Pearl, Finding Nemo (a co−production with Pixar), and Freaky Friday.
Also in 2003, computer animation company Pixar dealt Disney's animated division another devastating blow when it
announced it would find a new distribution partner for its films starting in 2006. Pixar, the studio behind the hits
Monsters, Inc., Toy Story, and Finding Nemo, owes Disney two more films under its current contract in which the
companies' split the costs and profits of the films down the middle.
The parks and resorts unit's attendance and revenue figures declined because of the combination of the 2001 terrorist
attacks on the US (which caused a steep drop in the travel business) and a recession. The company is looking toward the
international market to grow the business. Walt Disney already has a presence in Japan where it earns royalties on the
Tokyo Disney Resort (owned and operated by the Oriental Land Co.), and owns 39% of Disneyland Paris. An additional
theme park is being built in Hong Kong.
In the professional sports arena Disney owns the Mighty Ducks of Anaheim hockey franchise. Disney is exiting the sports
world, however. Early in 2003 it sold baseball's Anaheim Angels to Arturo Moreno, a Phoenix businessman, for $182
million. Disney decided to sell its teams just when they became successful. The Angels won its first World Series
championship in 2002, and the Ducks gained its first berth in the Stanley Cup finals in 2003 (but lost to the New Jersey
Devils).
After much initial success, the company's Disney Stores retail unit has fallen on hard times. The company reduced the
number of North American stores to about 480 from a high of 520. (Worldwide, Disney has about 550 locations.) A
makeover plan to divide the stores into two retail concepts, one focused on kids (Disney Play) and the other for parents
(Disney Kids At Home), has failed to catch fire. Disney is contemplating closing more stores or selling the business
altogether.
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A boardroom brawl erupted at Disney in late 2003 when the company forced Roy E. Disney Jr., the last Disney family
director, to resign from his position by enforcing a rule that requires all directors over the age of 72 to retire. Roy E. has
been highly critical of CEO Michael Eisner, who he sees as the major obstacle to the company's rebound, and repeatedly
called for his resignation. Roy E. ally Stanley Gold also resigned from the board in protest of the ouster.
The drama thickened early the next year when cable company Comcast made an unsolicited $54 billion bid to buy Disney.
Disney's board rejected the bid on the grounds that it undervalued the company.
Amid all the strife, Disney struke a deal to boost its children's entertainment properties by purchasing the Muppet and
Bear in the Big Blue House characters, along with their film and television libraries, from The Jim Henson Company.
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History
After getting started as an illustrator in Kansas City, Walt Disney and his brother Roy started Disney Brothers Studio in
Hollywood, California, in 1923. Walt directed the first Mickey Mouse cartoon, Plane Crazy, in 1928 (the third, Steamboat
Willie, was the first cartoon with a soundtrack). The studio produced its first animated feature film, Snow White and the
Seven Dwarfs, in 1937. Walt Disney Productions went public in 1940 and later produced classics such as Fantasia and
Pinocchio. The Disneyland theme park opened in 1955.
Roy Disney became chairman after Walt died of lung cancer in 1966. Disney World opened in Florida in 1971, the year
Roy died. His son, Roy E., became the company's principal individual shareholder. Walt's son−in−law, Ron Miller,
became president in 1980. Two years later Epcot Center opened in Florida. In 1984 the Bass family of Texas, in alliance
with Roy E., bought a controlling interest in the company. New CEO Michael Eisner (from Paramount) and president
Frank Wells (from Warner Bros.) ushered in an era of innovation, prosperity, and high executive salaries. The company
later launched The Disney Channel and opened new theme parks, including Tokyo Disneyland (1984) and Disney−MGM
Studios (1989). In 1986 the company changed its name to The Walt Disney Company. Disneyland Paris (originally Euro
Disney) opened in 1992.
Following Wells' death in a helicopter crash in 1994, boardroom infighting led to the acrimonious departure of studio
head Jeffrey Katzenberg. (He was awarded $250 million in compensation in 1999.) The next year Eisner appointed
Hollywood agent Michael Ovitz as president. (Ovitz left after 16 months with a severance package of more than $100
million.) Disney bought Capital Cities/ABC (now ABC, Inc.) for $19 billion in 1996, and two years later it bought Web
services firm Starwave from Microsoft co−founder Paul Allen. It later acquired 43% of Internet search engine Infoseek
for $70 million, and together they launched the GO Network in 1999. Disney bought the remaining 57% of Infoseek later
that year and formed GO.com (now Walt Disney Internet Group), which began trading as a separate tracking stock.
In early 2000 ABC chairman Robert Iger was named Disney's president and COO (and heir apparent to Eisner). Later that
year Time Warner Cable briefly suspended ABC broadcasts during a dispute over rebroadcasting rights, drawing the ire of
some 3.5 million cable customers. (The FCC later ruled that Time Warner violated rules against dropping a station from
cable systems during sweeps periods.)
In 2001 the company expanded its theme parks in Anaheim, opening Downtown Disney and Disney's California
Adventure. It also announced a further restructuring of its Internet business, including closing the GO.com search site and
converting its Internet tracking stock back into Disney common stock. That year Disney formed a joint venture with
Wenner Media (US Weekly LLC) and took a 50% stake in entertainment magazine US Weekly. Later Disney bought Fox
Family Channel, which it renamed ABC Family, from News Corp. and Haim Saban for $2.9 billion in cash and
assumption of $2.3 billion in debt.
In 2003 Disney began its exit from the sports world by selling the Anaheim Angels.
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Products/Operations
2003 Radio Stations
AM FM Total
Minneapolis/St. Paul 1
5 6
Dallas/Ft. Worth 2
3 5
Chicago
3
1 4
Los Angeles
3
1 4
Atlanta
1
2 3
Detroit
1
2 3
New York City
2
1 3
San Francisco
3
0 3
Washington, DC
1
2 3
Norfolk, VA
2
0 2
Portland, OR
2
0 2
Albany, NY
1
0 1
Albuquerque
1
0 1
Boston
1
0 1
Charlotte, NC
1
0 1
Cleveland
1
0 1
Denver
1
0 1
Flint, MI
1
0 1
Fremont, OH
1
0 1
Hartford, CT
1
0 1
Houston
1
0 1
Indianapolis
0
1 1
Jacksonville, FL
1
0 1
Kansas City, MO 1
0 1
Little Rock, AR
0
1 1
Louisville, KY
1
0 1
Miami
1
0 1
Milwaukee
1
0 1
Mobile, AL
0
1 1
New Orleans
1
0 1
Orlando, FL
1
0 1
Philadelphia
1
0 1
Phoenix
1
0 1
Pittsburgh
1
0 1
Providence, RI
1
0 1
Richmond, VA
1
0 1
San Antonio, TX
1
0 1
Sacramento, CA
1
0 1
Report Builder − The Walt Disney Company − Hoover's Online
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Salt Lake City
1
0 1
Seattle
1
0 1
St. Louis
1
0 1
Tampa
1
0 1
Tulsa, OK
1
0 1
West Palm Beach, FL 1
0 1
Wichita, KS
1
0 1
Total
52 20 72
2003 Sales
$ mil. % of total
Media networks 10,941 40
Studio entertainment 7,364 27
Parks & resorts
6,412 24
Consumer products 2,344 9
Total
27,061 100
Selected Operations and Operating Units
• Media Networks
• ABC Radio Networks
• ABC Television Network
• Buena Vista Productions
• Buena Vista Television
• Cable networks
• A&E Television Networks (37.5%)
• A&E
• A&E International
• The Biography Channel
• The History Channel
• History International
• ABC Family
• Fox Kids Europe (76%)
• Fox Kids Latin America
• Disney Channel
• E! Entertainment Television (39.6%)
• ESPN (80%)
• ESPN2
• ESPN Classic
• ESPNEWS
• Lifetime Entertainment Services (50%)
• Lifetime (50%; magazine)
• Lifetime Movie Network
• Lifetime Real Women (cable network)
• Lifetime Television (cable network)
• SOAPnet
• Style (39.6%)
• Toon Disney
• Touchstone Television
• TV stations
• KABC (Los Angeles)
Report Builder − The Walt Disney Company − Hoover's Online
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• KFSN (Fresno, CA)
• KGO (San Francisco)
• KTRK (Houston)
• WABC (New York City)
• WJRT (Flint, MI)
• WLS (Chicago)
• WPVI (Philadelphia)
• WTVD (Raleigh−Durham, NC)
• WTVG (Toledo, OH)
• Walt Disney Internet Group
• ABC.com
• ABCNEWS.com
• ABCSports.com
• Disney.com
• Disney on MSN (co−branded ISP with Microsoft)
• DisneyMobile.com
• ESPN.com
• FamilyFun.com
• Movies.com
• Walt Disney Television
• Studio Entertainment
• Buena Vista Home Entertainment
• Buena Vista Theatrical Group
• Disney Live Family Entertainment
• Disney Theatrical Productions
• Hollywood Pictures
• Miramax Film Corp.
• Dimension
• Miramax
• Music Group
• Hollywood Records
• Buena Vista Records
• Lyric Street
• Walt Disney Records
• Touchstone Pictures
• Walt Disney Pictures
• Theme Parks and Resorts
• Anaheim Sports
• Mighty Ducks of Anaheim (National Hockey League)
• Disney Cruise Line
• Disney Regional Entertainment
• ESPN Zone
• Euro Disney (39%)
• Disney Village
• Disneyland Paris
• The Walt Disney Studios Park (Marne−La−Vallee, France)
• Disneyland Resort (Anaheim, CA)
• Disneyland
• Disney's California Adventure
• Downtown Disney
• Hong Kong Disneyland (43%, in development)
• Tokyo Disney Resort (owned and operated by Oriental Land Co.; Disney earns royalties)
• Tokyo Disneyland
Report Builder − The Walt Disney Company − Hoover's Online
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• Tokyo DisneySea
• Walt Disney Imagineering (planning and development)
• Walt Disney World Resort (Orlando, FL)
• Disney Vacation Club
• Disney−MGM Studios
• Disney's Animal Kingdom
• Disney's Wide World of Sports
• Downtown Disney
• Epcot
• Magic Kingdom
• Consumer Products
• Buena Vista Games (video games)
• The Disney Catalog (direct marketing)
• Disney Interactive (children's software and video games)
• Disney Merchandise Licensing
• Disney Publishing Worldwide (children's books)
• DisneyStore.com
• The Disney Store
• Hyperion (adult trade books)
• Magazines
• Discover (magazine)
• Disney Adventures (magazine)
• FamilyFun (magazine)
• US Weekly (50%, magazine)
Selected ABC Shows
• 8 Simple Rules
• 10−8
• According to Jim
• Alias
• The Bachelor
• Less Than Perfect
• Life with Bonnie
• George Lopez
• Hope & Faith
• I'm With Her
• Monday Night Football
• My Wife And Kids
• NYPD Blue
• The Practice
• Threat Matrix
Selected Film Releases
• Atlantis
• Bad Boys II
• Brother Bear
• Cold Mountain
• Finding Nemo (co−production with Pixar)
• Freaky Friday
• The Haunted Mansion
Report Builder − The Walt Disney Company − Hoover's Online
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• Holes
• Kill Bill: Vol 1
• Kill Bill: Vol 2
• Pirates of the Caribbean: The Curse of the Black Pearl
• Scary Movie 3
• Spy Kids 3−D: Game Over
• Treasure Planet
• Under the Tuscan Sun
• Young Black Stallion
Archived Charts
2002 Radio Stations
AM FM Total
Minneapolis/St. Paul 1
5 6
Dallas/Ft. Worth 2
3 5
Chicago
3
1 4
Los Angeles
3
1 4
Atlanta
1
2 3
Detroit
1
2 3
San Francisco
3
0 3
Washington, DC
1
2 3
Denver
2
0 2
New York City
1
1 2
Norfolk, VA
2
0 2
Albany, NY
1
0 1
Boston
1
0 1
Charlotte, NC
1
0 1
Cleveland
1
0 1
Flint, MI
1
0 1
Fremont, OH
1
0 1
Hartford, CT
1
0 1
Houston
1
0 1
Jacksonville, FL
1
0 1
Kansas City, MO 1
0 1
Louisville, KY
1
0 1
Miami
1
0 1
Mobile, AL
0
1 1
Orlando, FL
1
0 1
Philadelphia
1
0 1
Phoenix
1
0 1
Pittsburgh
1
0 1
Providence, RI
1
0 1
Richmond, VA
1
0 1
Sacramento, CA
1
0 1
Report Builder − The Walt Disney Company − Hoover's Online
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Seattle
1
0 1
St. Louis
1
0 1
Tampa
1
0 1
West Palm Beach, FL 1
0 1
Wichita, KS
1
0 1
Total
44 18 62
2002 Sales
$ mil. % of total
Media networks 9,733 38
Studio entertainment 6,691 26
Parks & resorts
6,465 26
Consumer products 2,440 10
Total
25,329 100
Report Builder − The Walt Disney Company − Hoover's Online
40
Other Resources Available On Hoover's Online
News for Walt Disney (last 90 days)
Company Press Release Archive
Other Resources
• Headquarters Map
• SEC Filings
♦ 10−K Filings
• Stock Quote
• Stock Chart
• Earnings Estimates
• ValuEngine Analysis
• Annual Report
• Investor Relations
• Financial Data Definitions
• Market Data Definitions
• Comparison Data Definitions
• Historical Financials & Employees Definitions
Related Products From Our Trusted Partners
Buy Reports and Books
Additional Research On Walt Disney
• D&B Business/Credit Reports: The Walt Disney Company
(D&B, Feb 1, 2004, Business Reports)
• The Walt Disney Company: Company Profile
• Manufacturing Branches
• Corporate Hierarchy
(Datamonitor, Feb 1, 2004, Business Reports)
• Quantitative Report for DIS
(ValuEngine, Inc., Jan 1, 2004, Business Reports)
• Book Publishers Deluxe Set
(Harris Industry Reports, Aug 12, 2003, Business Reports)
• Academic E−Learning Must Confront Content Development Costs
(Gartner, Inc., Apr 30, 2003, Business Reports)
• Financial Performance Scorecard Second Quarter 2003: Continued
Strength Teamed With Remarkable Leverage
(Outsell, Inc., Oct 17, 2003, Business Reports)
• Amusement Parks, Arcades & Attractions: Financial Analysis Profiles
(BizMiner, Dec 23, 2003, Business Reports)
• Amusement and Theme Parks in the US
(IBISWorld, Jan 18, 2004, Business Reports)
Additional 3rd Party Libraries
Report Builder − The Walt Disney Company − Hoover's Online
41
Annual Financials
All amounts in millions of US Dollars
Income Statement
Sep 03
Sep 02
Sep 01
Revenue
27,061.0
25,329.0
25,269.0
Cost of Goods Sold
23,271.0
21,903.0
20,683.0
3,790.0
3,426.0
4,586.0
14.0%
13.5%
18.1%
0.0
0.0
0.0
Depreciation & Amortization
1,077.0
1,042.0
1,754.0
Operating Income
2,713.0
2,384.0
2,832.0
Operating Margin
10.0%
9.4%
11.2%
Nonoperating Income
350.0
259.0
322.0
Nonoperating Expenses
793.0
453.0
417.0
2,254.0
2,190.0
1,283.0
789.0
853.0
1,059.0
Net Income After Taxes
1,465.0
1,337.0
224.0
Continuing Operations
1,338.0
1,236.0
120.0
0.0
0.0
0.0
Total Operations
1,338.0
1,236.0
120.0
Total Net Income
1,267.0
1,236.0
(158.0)
Net Profit Margin
4.7%
4.9%
−−
Diluted EPS from Continuing Operations ($)
0.65
0.60
0.11
Diluted EPS from Discontinued Operations ($)
0.00
0.00
0.00
Diluted EPS from Total Operations ($)
0.65
0.60
0.11
0.21
0.21
0.21
Sep 03
Sep 02
Sep 01
Cash
1,583.0
1,239.0
618.0
Net Receivables
4,238.0
4,049.0
3,343.0
703.0
697.0
671.0
Gross Profit
Gross Profit Margin
SG&A Expense
Income Before Taxes
Income Taxes
Discontinued Operations
Diluted EPS from Total Net Income ($)
Dividends per Share
Balance Sheet
Assets
Current Assets
Inventories
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Other Current Assets
1,790.0
1,864.0
2,397.0
Total Current Assets
8,314.0
7,849.0
7,029.0
Net Fixed Assets
12,678.0
12,780.0
12,907.0
Other Noncurrent Assets
28,996.0
29,416.0
23,763.0
Total Assets
49,988.0
50,045.0
43,699.0
Sep 03
Sep 02
Sep 01
Accounts Payable
5,044.0
5,173.0
4,603.0
Short−Term Debt
2,457.0
1,663.0
829.0
Other Current Liabilities
1,168.0
983.0
787.0
Total Current Liabilities
8,669.0
7,819.0
6,219.0
10,643.0
12,467.0
8,940.0
3,745.0
3,283.0
2,756.0
26,197.0
26,600.0
21,027.0
Preferred Stock Equity
0.0
0.0
0.0
Common Stock Equity
23,791.0
23,445.0
22,672.0
Total Equity
23,791.0
23,445.0
22,672.0
Shares Outstanding (mil.)
2,013.3
2,018.6
2,100.0
Cash Flow Statement
Sep 03
Sep 02
Sep 01
Net Operating Cash Flow
2,901.0
2,286.0
3,048.0
Net Investing Cash Flow
(1,034.0)
(3,176.0)
(2,015.0)
Net Financing Cash Flow
(1,523.0)
1,511.0
(1,257.0)
344.0
621.0
(224.0)
1,077.0
1,042.0
1,754.0
Capital Expenditures
(1,179.0)
(3,931.0)
(2,275.0)
Cash Dividends Paid
Data Definitions
(429.0)
(428.0)
(438.0)
Liabilities and Shareholders' Equity
Current Liabilities
Long−Term Debt
Other Noncurrent Liabilities
Total Liabilities
Shareholders' Equity
Net Change in Cash
Depreciation & Amortization
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − The Walt Disney Company − Hoover's Online
43
Quarterly Financials
All amounts in millions of US Dollars except per share amounts.
Quarter
Quarter
Income Statement
Ending Dec 03 Ending Sep 03
Quarter Quarter Ending
Ending Jun 03
Mar 03
Quarter
Ending Dec 02
Revenue
8,549.0
7,088.0
6,175.0
6,332.0
7,466.0
Cost of Goods Sold
7,111.0
6,068.0
5,164.0
5,510.0
6,529.0
Gross Profit
1,438.0
1,020.0
1,011.0
822.0
937.0
16.8%
14.4%
16.4%
13.0%
12.6%
0.0
0.0
0.0
0.0
0.0
273.0
251.0
284.0
276.0
266.0
Operating Income
1,165.0
769.0
727.0
546.0
671.0
Operating Margin
13.6%
10.8%
11.8%
8.6%
9.0%
97.0
91.0
118.0
51.0
90.0
148.0
151.0
168.0
178.0
296.0
1,114.0
708.0
662.0
419.0
465.0
Income Taxes
410.0
198.0
247.0
157.0
187.0
Net Income After Taxes
704.0
510.0
415.0
262.0
278.0
Continuing Operations
688.0
453.0
400.0
229.0
256.0
0.0
0.0
0.0
0.0
0.0
Total Operations
688.0
453.0
400.0
229.0
256.0
Total Net Income
688.0
382.0
400.0
229.0
256.0
Net Profit Margin
8.0%
5.4%
6.5%
3.6%
3.4%
Diluted EPS from Continuing
Operations ($)
0.33
0.22
0.19
0.11
0.13
Diluted EPS from
Discontinued Operations ($)
0.00
0.00
0.00
0.00
0.00
Diluted EPS from Total
Operations ($)
0.33
0.22
0.19
0.11
0.13
0.00
0.00
0.00
0.21
0.00
Quarter
Ending Dec 03
Quarter
Ending Sep 03
Quarter Quarter Ending
Ending Jun 03
Mar 03
Quarter
Ending Dec 02
Gross Profit Margin
SG&A Expense
Depreciation & Amortization
Nonoperating Income
Nonoperating Expenses
Income Before Taxes
Discontinued Operations
Diluted EPS from Total Net
Income ($)
Dividends per Share
Balance Sheet
Assets
Report Builder − The Walt Disney Company − Hoover's Online
44
Current Assets
Cash
1,462.0
1,583.0
1,370.0
1,752.0
1,380.0
Net Receivables
5,670.0
4,238.0
4,171.0
4,382.0
4,765.0
660.0
703.0
622.0
629.0
631.0
Other Current Assets
2,284.0
1,790.0
1,805.0
1,902.0
1,958.0
Total Current Assets
10,076.0
8,314.0
7,968.0
8,665.0
8,734.0
Net Fixed Assets
12,570.0
12,678.0
12,626.0
12,735.0
12,713.0
Other Noncurrent Assets
28,874.0
28,996.0
29,412.0
29,356.0
29,429.0
Total Assets
51,520.0
49,988.0
50,006.0
50,756.0
50,876.0
Quarter
Ending Dec 03
Quarter
Ending Sep 03
Quarter Quarter Ending
Ending Jun 03
Mar 03
Quarter
Ending Dec 02
Accounts Payable
5,950.0
5,044.0
4,509.0
4,952.0
5,675.0
Short−Term Debt
2,332.0
2,457.0
1,855.0
1,781.0
1,820.0
Other Current Liabilities
1,273.0
1,168.0
1,149.0
1,171.0
836.0
Total Current Liabilities
9,555.0
8,669.0
7,513.0
7,904.0
8,331.0
10,827.0
10,643.0
12,056.0
12,932.0
13,079.0
3,916.0
3,745.0
3,156.0
3,199.0
3,111.0
27,486.0
26,197.0
26,074.0
27,246.0
27,591.0
Preferred Stock Equity
0.0
0.0
0.0
0.0
0.0
Common Stock Equity
24,034.0
23,791.0
23,932.0
23,510.0
23,285.0
Total Equity
24,034.0
23,791.0
23,932.0
23,510.0
23,285.0
2,013.3
2,013.3
2,013.0
2,013.3
2,018.6
Quarter
Ending Dec 03
Quarter
Ending Sep 03
Quarter Quarter Ending
Ending Jun 03
Mar 03
Quarter
Ending Dec 02
Net Operating Cash Flow
(2.0)
2,901.0
1,575.0
929.0
(414.0)
Net Investing Cash Flow
(163.0)
(1,034.0)
(708.0)
(470.0)
(187.0)
Net Financing Cash Flow
44.0
(1,523.0)
(736.0)
54.0
742.0
(121.0)
344.0
131.0
513.0
141.0
273.0
251.0
284.0
276.0
266.0
(211.0)
(1,179.0)
(835.0)
(28.0)
(23.0)
Inventories
Liabilities and
Shareholders' Equity
Current Liabilities
Long−Term Debt
Other Noncurrent Liabilities
Total Liabilities
Shareholders' Equity
Shares Outstanding (mil.)
Cumulative Cash Flow
Statement
Net Change in Cash
Depreciation & Amortization
Capital Expenditures
Report Builder − The Walt Disney Company − Hoover's Online
45
Cash Dividends Paid
0.0
(429.0)
(429.0)
(429.0)
0.0
Data Definitions
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − The Walt Disney Company − Hoover's Online
46
Historical Financials & Employees
Income Statement
Year
Revenue
($ mil.)
Net Income
($ mil.)
Net Profit
Margin
Employees
Sep 03
27,061.0
1,267.0
4.7%
112,000
Sep 02
25,329.0
1,236.0
4.9%
112,000
Sep 01
25,269.0
(158.0)
−−
114,000
Sep 00
25,402.0
920.0
3.6%
120,000
Sep 99
23,402.0
1,300.0
5.6%
120,000
Sep 98
22,976.0
1,850.0
8.1%
117,000
Sep 97
22,473.0
1,966.0
8.7%
108,000
Sep 96
18,739.0
1,214.0
6.5%
100,000
Sep 95
12,112.1
1,380.1
11.4%
71,000
Sep 94
10,055.1
1,110.4
11.0%
65,000
Stock History
Stock Price ($)
Year
P/E
Per Share ($)
FY
High
FY
Low
FY
Close
High
Low
Earns.
Div.
Book
Value
Sep 03
23.8
13.9
20.2
36.6
21.4
0.6
0.2
11.8
Sep 02
25.2
13.5
15.1
41.9
22.5
0.6
0.2
11.6
Sep 01
41.9
15.5
18.6
−−
−−
(0.0)
0.2
10.8
Sep 00
43.9
23.4
38.2
77.0
41.0
0.6
0.2
11.4
Sep 99
38.7
22.5
26.0
62.4
36.3
0.6
0.0
10.1
Sep 98
42.8
23.9
25.4
48.0
26.8
0.9
0.1
9.4
Sep 97
28.4
20.8
26.9
29.8
21.9
0.9
0.2
8.5
Sep 96
23.3
17.5
21.1
35.8
27.0
0.6
0.1
7.9
Sep 95
20.9
12.6
19.1
24.1
14.4
0.9
0.1
4.2
Sep 94
16.2
12.4
12.9
23.8
18.2
0.7
0.1
3.5
2003 Year−End Financials
Debt ratio
44.7%
Return on equity
5.3%
Cash ($ mil.)
1,583.0
Current ratio
0.96
Long−term debt ($ mil.)
10,643.0
Report Builder − The Walt Disney Company − Hoover's Online
47
Shares Outstanding (mil.)
2,013.3
Dividend yield
1.0%
Dividend payout
32.3%
Market value ($ mil.)
40,608.3
Data Definitions
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − The Walt Disney Company − Hoover's Online
48
Market Data
Current Information
Last Close 2−Mar−2004
$26.76 Price/Sales Ratio
1.95
52−Week High
$28.58 Price/Book Ratio
2.28
52−Week Low
$14.84 Price/Earnings Ratio
60−Month Beta
31.48
1.0 Price/Cash Flow Ratio
Market Value (mil.)
Shares Outstanding (mil.)
Dividend Rate
19.25
$54,793.7 Return on Assets
3.4%
2,047.6 Return on Equity
7.4%
0.21 Current Ratio
1.05
Dividend Yield
0.8% Long−Term Debt/Equity
0.45
# of Institutional Holders
2,338 % Owned by Institutions
64.5%
Latest Short Interest Ratio
Growth Rates
Revenue Growth
EPS Growth
Dividend Growth
4.70 Latest Net Insider Transactions
0.00
12 Month
36 Month
60 Month
9.0%
2.0%
2.9%
63.5%
33.4%
(3.4%)
−−
0.0%
−−
Data Definitions
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − The Walt Disney Company − Hoover's Online
49
Comparison Data
Company
Industry1
Market2
Gross Profit Margin
15.25%
46.53%
47.95%
Pre−Tax Profit Margin
10.31%
(32.76%)
5.52%
Net Profit Margin
6.29%
(36.78%)
2.58%
Return on Equity
7.4%
−−
5.2%
Return on Assets
3.4%
(17.1%)
0.8%
Return on Invested Capital
5.1%
(26.2%)
2.5%
Company
Industry1
Market2
1.95
1.59
1.47
31.48
−−
57.36
2.28
1.57
2.94
19.25
(9.04)
16.67
Company
Industry1
Market2
72.53
59.01
59.96
37.0
14.3
7.5
Days Cost of Goods Sold in Inventory
10
25
48
Asset Turnover
0.5
0.5
0.3
Net Receivables Turnover Flow
5.4
6.2
6.1
34.9%
−−
−−
Company
Industry1
Market2
1.05
0.87
1.39
0.7
0.7
1.0
Leverage Ratio
2.14
2.13
6.08
Total Debt/Equity
0.55
0.46
1.46
Interest Coverage
5.30
(5.80)
2.00
Company
Industry1
Market2
13.74
16.59
19.48
Fully Diluted Earnings Per Share
from Total Operations
0.85
(5.93)
0.50
Dividends Per Share
0.21
0.14
0.42
Cash Flow Per Share
1.39
(2.91)
1.72
Working Capital Per Share
0.25
(0.85)
2.12
Long−Term Debt Per Share
5.29
6.52
10.20
11.74
16.76
9.76
Profitability
Valuation
Price/Sales Ratio
Price/Earnings Ratio
Price/Book Ratio
Price/Cash Flow Ratio
Operations
Days of Sales Outstanding
Inventory Turnover
Effective Tax Rate
Financial
Current Ratio
Quick Ratio
Per Share Data ($)
Revenue Per Share
Book Value Per Share
Report Builder − The Walt Disney Company − Hoover's Online
50
Total Assets Per Share
25.16
35.79
59.32
Company
Industry1
Market2
9.0%
3.3%
2.9%
12−Month Net Income Growth
67.9%
−−
51.0%
12−Month EPS Growth
63.5%
−−
56.3%
12−Month Dividend Growth
−−
0.0%
2.4%
36−Month Revenue Growth
2.0%
16.9%
1.3%
36−Month Net Income Growth
55.7%
−−
(21.7%)
36−Month EPS Growth
33.4%
−−
(22.4%)
0.0%
28.1%
1.5%
Growth
12−Month Revenue Growth
36−Month Dividend Growth
1Industry:
Entertainment − Divrsfied
Industry classifications
are from Media General Financial Services, Inc.
2
.
Public companies trading on the New York Stock Exchange, the American Stock Exchange, and the NASDAQ National Market.
Data Definitions
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − The Walt Disney Company − Hoover's Online
51
Competitive Landscape
KEY: Best of Group. Companies listed are Top Competitors.
NBC 1
Time
Warner
Vivendi
Universal
Annual Sales ($mil.)
27,061.0 6,871.0
39,565.0
61,075.0
Employees
112,000
−−
−−
61,815
Market Value ($mil.)
54,793.7
−−
74,351.1
30,486.0
Profitability
Walt
Disney
NBC 1
Time
Warner
Gross Profit Margin
15.25%
−−
50.10%
69.37%
46.53%
47.95%
Pre−Tax Profit Margin
10.31%
−−
−−
(34.23%)
(32.76%)
5.52%
Net Profit Margin
6.29%
−−
6.70%
(40.07%)
(36.78%)
2.58%
Return on Equity
7.4%
−−
4.8%
−−
−−
5.2%
Return on Assets
3.4%
−−
2.2%
(33.6%)
(17.1%)
0.8%
Return on Invested Capital
5.1%
−−
3.3%
(95.2%)
(26.2%)
2.5%
Walt
Disney
NBC 1
Time
Warner
1.95
−−
1.88
0.50
1.59
1.47
31.48
−−
29.98
−−
−−
57.36
2.28
−−
1.35
2.07
1.57
2.94
19.25
−−
(2.02)
39.08
(9.04)
16.67
Walt
Disney
NBC 1
Time
Warner
72.53
−−
40.34
65.20
59.01
59.96
37.0
−−
10.5
8.9
14.3
7.5
Days Cost of Goods Sold in
Inventory
10
−−
34
40
25
48
Asset Turnover
0.5
−−
0.3
0.6
0.5
0.3
Net Receivables Turnover Flow
5.4
−−
8.5
3.8
6.2
6.1
Effective Tax Rate
34.9%
−−
−−
−−
−−
−−
Financial
Walt
Disney
NBC 1
Time
Warner
1.05
−−
0.76
0.69
0.87
1.39
0.7
−−
0.5
0.6
0.7
1.0
Leverage Ratio
2.14
−−
2.17
4.95
2.13
6.08
Total Debt/Equity
0.55
−−
0.47
1.40
0.46
1.46
Key Numbers
Valuation
Price/Sales Ratio
Price/Earnings Ratio
Price/Book Ratio
Price/Cash Flow Ratio
Operations
Days of Sales Outstanding
Inventory Turnover
Current Ratio
Quick Ratio
Walt
Disney
Report Builder − The Walt Disney Company − Hoover's Online
Vivendi
Industry2 Market3
Universal
Vivendi
Industry2 Market3
Universal
Vivendi
Industry2 Market3
Universal
Vivendi
Industry2 Market3
Universal
52
Interest Coverage
5.30
−−
(22.30)
Walt
Disney
NBC 1
Time
Warner
13.74
−−
9.09
57.16
16.59
19.48
Fully Diluted Earnings Per Share
from Total Operations
0.85
−−
0.57
(22.51)
(5.93)
0.50
Dividends Per Share
0.21
−−
0.00
0.89
0.14
0.42
Cash Flow Per Share
1.39
−−
(8.46)
0.73
(2.91)
1.72
Working Capital Per Share
0.25
−−
(0.74)
(9.31)
(0.85)
2.12
Long−Term Debt Per Share
5.29
−−
5.78
10.28
6.52
10.20
Book Value Per Share
11.74
−−
12.66
13.78
16.76
9.76
Total Assets Per Share
25.16
−−
27.52
68.15
35.79
59.32
Walt
Disney
NBC 1
Time
Warner
9.0%
−−
(3.4%)
19.5%
3.3%
2.9%
12−Month Net Income Growth
67.9%
−−
−−
−−
−−
51.0%
12−Month EPS Growth
63.5%
−−
−−
−−
−−
56.3%
12−Month Dividend Growth
−−
−−
−−
(1.1%)
0.0%
2.4%
36−Month Revenue Growth
2.0%
−−
64.5%
13.2%
16.9%
1.3%
36−Month Net Income Growth
55.7%
−−
−−
−−
−−
(21.7%)
36−Month EPS Growth
33.4%
−−
−−
−−
−−
(22.4%)
0.0%
−−
−−
−−
28.1%
1.5%
Per Share Data ($)
Revenue Per Share
Growth
12−Month Revenue Growth
36−Month Dividend Growth
(3.90)
(5.80)
2.00
Vivendi
Industry2 Market3
Universal
Vivendi
Industry2 Market3
Universal
1
Data unavailable.
Industry: Entertainment − Divrsfied
Industry classifications
are from Media General Financial Services, Inc.
.
3 Public companies trading on the New York Stock Exchange, the American Stock Exchange, and the NASDAQ National Market.
2
Data Definitions
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − The Walt Disney Company − Hoover's Online
53
Copyright 2004, Hoover's, Inc.
Report Builder − The Walt Disney Company − Hoover's Online
54