DOW JONES NEWSWIRES
Walt Disney Co. (DIS) tapped Rich Ross, president of Disney
Channels Worldwide, to be chairman of Walt Disney Studios.
He takes over the struggling film division immediately; Dick
Cook resigned abruptly last month after seven years at the
helm.
Ross will oversee worldwide production, distribution and
marketing for the company's movies under the Walt Disney,
Touchstone, Miramax and Disney/Pixar labels. He also will head
Disney's theatrical and music groups.
The 13-year Disney veteran "has an outstanding record of
creating high-quality family entertainment," said Chief Executive
Robert Iger.
Once the centerpiece of Disney's sprawling family-entertainment
empire, Disney Studios today is just one of several high-profile
film labels owned by the media giant.
Ross will manage a roster of film makers ranging from DreamWorks
SKG co-founder Steven Spielberg to Pixar Chief Creative Officer
John Lasseter as well as the soon-to-be acquired Marvel
Entertainment Inc. (MVL).
When Iger took the reins four years ago, he stressed that
Disney-branded movies, videogames and other products were at the
core of the company's strategy as they were spun out across its
empire of theme parks, toy manufacturing and television channels.
The company had broadened the movie studio's mandate from
children's animated films, adding live-action, family-oriented
entertainment such as the "Pirates of the Caribbean" franchise. It
also pared back units such as Miramax Films, whose often-edgy adult
fare, like "Pulp Fiction," didn't fit the definition of a Disney
film.
Disney also began snapping up former competitors as additional
sources of films, starting with the $7.6 billion acquisition in
2006 of Pixar Animation Studios. Earlier this year, Disney struck a
deal to distribute films from Spielberg's DreamWorks label. With
Marvel CEO Ike Perlmutter set to stay on board after the
acquisition, Disney will have at least three divisions run by
strong-willed chiefs with long track records of calling their own
creative shots.
Ross has been leading Disney Channels Worldwide, which includes
94 channels and channel feeds available in 163 countries in 32
languages and features brands such as the flagship Disney Channel,
the boy-focused Disney XD and Playhouse Disney for younger kids. He
also oversaw the growth of Radio Disney and of multiplatform
offerings such as subscription video-on-demand and the Web sites
DisneyXD.com and DisneyChannel.com.
Disney's shares closed Monday at $27.67 and were unchanged after
hours. The stock is up 22% this year but is still down 6% from a
year ago.
-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357;
kathy.shwiff@dowjones.com
