Disney ESPN remark causes stock market panic

Disney remark on TV viewing sends industry into tailspin

A ‘media meltdown’?

by Meg James at Los Angeles Times

Walt Disney Co. warned investors late Tuesday that profit from ESPN and other cable channels would not be as robust as initially thought because fewer consumers are subscribing to full pay-TV packages.

The admission rattled Wall Street. The thinking was that if the world’s largest entertainment company, Disney, and television’s most profitable channel, ESPN, were not immune, then weaker companies and channels were vulnerable too.

In a massive sell-off — one analyst called it “the media meltdown” — over the last two days, Time Warner slid 10%, Disney shares dropped 11%, Fox fell nearly 13% and Viacom plunged 21%.

“One sentence from Disney and nearly $60 billion in market value gets wiped out,” Doug Creutz, media analyst with Cowen & Co., said Thursday. “Can you say panic?”

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Walt Disney’s birthplace children’s museum

A Cinderella story for Walt Disney’s childhood home

Walt Disney’s childhood home may open soon

by John P Owens at Chicago Tribune

It is a modest, two-story frame house, sitting on the corner of Tripp Avenue and Palmer Street in Chicago’s working class Hermosa neighborhood. A young itinerant contractor named Elias Disney built it with his own hands in 1891. His wife, Flora gave birth to Walter “Walt” Elias Disney in a second-floor bedroom on Dec. 5, 1901.

Brent Young and Dina Benadon, the current owners of the house, want to slowly open the property to the public, starting with the neighborhood kids where the house is located. “We believe there’s a lot of parallels between Walt and Roy’s story and what kids in Hermosa go through today. This was a humble, working-class home and these are working-class homes today. But this house is a symbol of the American Dream,” Young said.

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Inside Out’s talking Sadness Doll could make kids suicidal

Inside Out‘s Sadness toy angers father

This Disney doll has suicidal thoughts

by Richard Spillett at London Daily Mail

A father has called on Disney to recall a talking doll from its latest movie Inside Out after claiming the toy expresses ‘suicidal thoughts’. Andrew Smith, of Dingwall in the Scottish Highlands fears the doll could lead to children becoming depressed.

  • Father’s anger after ‘Sadness‘ toy from new film Inside Out says phrases like ‘Goodbye friendship, hello loneliness’ and ‘I’m in an emotional slump’
  • Sadness is one of five characters personifying emotions in the new hit film
  • But father says the talking doll of the character is too depressing
  • He says the toy should be recalled to prevent it encouraging misery
  • Disney says Sadness is ‘pivotal’ to the film and doll says key phrases

Continue reading Inside Out’s talking Sadness Doll could make kids suicidal

Outsourcing on hold at Disney

Tech job outsourcing plan on hold at Disney

Controversial temporary work visa program being investigated

by Ezra David Haith

According to a series of articles in The New York Times, Disney suddenly cancelled the layoffs of 35 internet technology employees at ABC Television.  The IT workers received word of the change after they had already begun training immigrants from an outsourcing company to do their jobs.

The immigrant trainees suddenly stopped coming to the office, and the employees were read a “precisely worded statement” that the layoff had been cancelled and their jobs would continue until further notice.  No explanation was given.  It’s been speculated that controversy over immigration and labor laws may be the reason.

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Oswald cartoon screenings in Los Angeles

Watch Classic Walt Disney cartoons at the Ace Hotel’s Theatre

The entertainment giant presents a full evening of animated shorts with a soundtrack supplied by the Los Angeles Chamber Orchestra

by Craig Byrd at Los Angeles Magazine

On Saturday June 13, the Los Angeles Chamber Orchestra is celebrating Walt Disney Animation with the first showings of two Oswald the Lucky Rabbit shorts in over 50 years. LACO will be performing orchestral scores written by Mark Watters who is also conducting. The evening will take place at The Theatre at Ace Hotel.

The two short films are 1927’s Poor Papa and 1928’s Africa Before Dark. “Poor Papa was the first Oswald that Walt and his team animated,” reveals Bossert. “It was not released initially. It was released at the end of the 26 [cartoons] that he created.

Read more at Los Angeles Magazine

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