Word: eisner
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...that was his pixie-dust era. ABC, which Eisner bought for $19 billion in 1996, swung from earning $1 billion in operating income in 2000 to losing $36 million last year. Eisner blew at least $1.6 billion on Internet ventures, including the Go.com portal, and in 2001 he paid $5.2 billion for the Fox Family Channel (considered a high sum), which was renamed ABC Family and proceeded to slump in the ratings. None of this has been lost on investors: Disney stock wobbles at around $22 a share, half the heights it reached...
...Disney a full 50% share of the profits from Pixar pictures, along with a distribution fee, in exchange for splitting the costs. Several entertainment companies are offering Pixar more favorable terms than Disney's old deal, and Jobs is said to be getting peeved by the protracted negotiations with Eisner. As much as ever, the head of the $27 billion empire is in the thick of things and sweating the details. --With reporting by Sean Gregory and Julie Rawe/New York, Jeffrey Ressner/Los Angeles and Chris Taylor/San Francisco
Prizefight Disney chief Michael Eisner has survived many a corporate battle. But what if the challenge comes from a guy named Disney...
...members of the WALT DISNEY CO. board resigned last week with a call to oust CEO Michael Eisner. Long gone are the days when Eisner, a TIME cover subject in 1988, was seen solely as the company's rescuer...
...Eisner's revival of Disney has made him the current king of Hollywood and the darling of Wall Street. More important, though, is that Disney fans have begun to recognize him as a corporate hero of sorts, a long-awaited, trustworthy heir to Walt. Eisner has established himself as a charismatic, young-dad figure by appearing each week as the host of the Disney Sunday Movie, where the husky-voiced executive clowns with Mickey, Minnie and other colleagues. "This job is so perfect for him," says Dawn Steel, president of Columbia Pictures and a former co-worker at Paramount...