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Sarangel
05-21-2001, 03:45 PM
Walt Disney Co. is becoming more serious about controlling costs at its movie division as the company re-examines the unit's role, the New York Times reported.

The unit has produced fewer movies since Peter Schneider replaced Joe Roth as president of Walt Disney Studios, the paper said. It has lost a series of employees, including DreamWorks SKG co-founder Jeffrey Katzenberg, and faced morale problems.

Disney Studios will release 14 films this year, about two- thirds of what it has issued in recent years, the paper said. The animated film, "Atlantis: The Lost Empire,'' which debuts next month, cost $100 million, or about 35 percent less than other Disney animated films.

The studio, which accounts for about 15 percent of Disney's operating income, reflects the company's creativity and provides ideas for theme park rides and consumer products, the paper said, citing Scott Davis, an analyst at First Union Securities Inc.
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Source: AOL News