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...against Dean seemed closed when they seized upon his post-Iowa “scream,” playing it again and again (633 times on broadcast and cable media in a few days, according to the Associated Press, and relentlessly in Diane Sawyer’s half-hour ABC interview of Dean and his wife). But, it turned out, the so-called shout itself wasn’t actually the manic, out-of-the-blue cry of an angry madman—closer inspection revealed the clip to be the product of a bad, misleading recording from a unidirectional...
...DISNEY Moneymaker ESPN airs big-time sports but is battling cable operators over rate hikes. Disney also owns the Disney Channel, ABC Family, Toon Disney, and SOAPnet...
Eisner, 61, took over a doddering Disney in 1984 and made it spout money. But since 1996, Disney has been sputtering. Eisner's outsize compensation, his somnolent board of directors and poor performances at ABC and Disney's theme parks and animation business have made him a target. Eisner's micromanaging style, imperious mien and inability to groom a successor--all perfectly acceptable when you're coining money--are now liabilities. Chief dissident Roy Disney, the founder's nephew, has called for his head, and Institutional Shareholders Services, an influential investor-advisory group, has recommended that its clients withhold their...
...income is down $583 million from its 1998 peak of $1.85 billion, and Disney shares hovered at about $24, down from a high of $43.63 in April 2000, before a run-up last week on takeover speculation. The pair underlined Disney's shortcomings. Among them: the ABC television network, mired in fourth place in the ratings war, made just $37 million in 2003, after clearing $1 billion in operating income in 2000; and Eisner failed to deliver the cash forecast from his $5.2 billion purchase of the Fox Family Channel, which was renamed the ABC Family Channel. Over at Disney...
With estimated annual profits of $1 billion and a market value of $15 billion to $20 billion, ESPN, launched in 1979 with a lineup that included Australian Rules Football and gocart racing, became Disney's go-to asset as its theme parks and ABC faltered. Comcast Cable president Stephen Burke leaves no doubt that acquiring ESPN is a prime motivation for his bid. "Warren Buffett has said he likes businesses that are like a castle with a big moat around it," says Burke. "ESPN is a great castle with a very big moat." ESPN's Sunday Night Football...