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Disney folds TV animation unit into cable group
Reuters, 01.03.03, 1:42 PM ET
LOS ANGELES, Jan 3 (Reuters) - Walt Disney Co. (nyse: DIS - news - people) said on Friday it was reorganizing its famous animation division, folding its television cartoon group into its cable Disney Channel in a bid to save costs and bolster its TV offerings.
The latest move follows a recent trend by Disney of merging creative and distribution groups, in an effort by the entertainment conglomerate to slash costs.
"By moving television animation to our cable group, we are combining production and development with programming and distribution: a model that has worked extremely well for our motion picture studio, and for Touchstone Television and the ABC Television network," Disney President and Chief Operating Officer Robert Iger said in a statement.
Disney expects to "find efficiencies" and to react to the "enormous growth of production, particularly in the areas of television animation and live theater", executives said.
In a much-anticipated move, animation chief Tom Schumacher moves to head Disney's burgeoning theatrical division, which has been responsible for taking "The Lion King" to Broadway.
Schumacher had been responsible for all animation by the company, which sprang to fame with the release of the first animated feature, "Snow White and the Seven Dwarfs" in 1937.
The feature animation unit has had mixed results lately, restating its fiscal fourth quarter results after "Treasure Planet" -- its new adaptation of Robert Louis Stevenson's "Treasure Island," bombed at theaters, but producing some hits at lower costs, such as last year's "Lilo and Stitch".
Disney also has been rebuilding its children's television audience since making its signature Disney Channel part of the basic cable television lineup rather than a premium service.
Barry Blumberg, previously executive vice president of television animation, was named president of that unit, and will report to the president of ABC Cable Networks Group and Disney Channel Worldwide, Anne Sweeney.
The previous television animation president, David Stainton, was named president of feature animation and will take with him responsibility for Disney's direct-to-video animated feature business, as that unit moves from the television to the feature animation unit.
Shares of Disney were down 5 cents at $17.31 on the New York Stock Exchange in early afternoon trade.
Reuters, 01.03.03, 1:42 PM ET
LOS ANGELES, Jan 3 (Reuters) - Walt Disney Co. (nyse: DIS - news - people) said on Friday it was reorganizing its famous animation division, folding its television cartoon group into its cable Disney Channel in a bid to save costs and bolster its TV offerings.
The latest move follows a recent trend by Disney of merging creative and distribution groups, in an effort by the entertainment conglomerate to slash costs.
"By moving television animation to our cable group, we are combining production and development with programming and distribution: a model that has worked extremely well for our motion picture studio, and for Touchstone Television and the ABC Television network," Disney President and Chief Operating Officer Robert Iger said in a statement.
Disney expects to "find efficiencies" and to react to the "enormous growth of production, particularly in the areas of television animation and live theater", executives said.
In a much-anticipated move, animation chief Tom Schumacher moves to head Disney's burgeoning theatrical division, which has been responsible for taking "The Lion King" to Broadway.
Schumacher had been responsible for all animation by the company, which sprang to fame with the release of the first animated feature, "Snow White and the Seven Dwarfs" in 1937.
The feature animation unit has had mixed results lately, restating its fiscal fourth quarter results after "Treasure Planet" -- its new adaptation of Robert Louis Stevenson's "Treasure Island," bombed at theaters, but producing some hits at lower costs, such as last year's "Lilo and Stitch".
Disney also has been rebuilding its children's television audience since making its signature Disney Channel part of the basic cable television lineup rather than a premium service.
Barry Blumberg, previously executive vice president of television animation, was named president of that unit, and will report to the president of ABC Cable Networks Group and Disney Channel Worldwide, Anne Sweeney.
The previous television animation president, David Stainton, was named president of feature animation and will take with him responsibility for Disney's direct-to-video animated feature business, as that unit moves from the television to the feature animation unit.
Shares of Disney were down 5 cents at $17.31 on the New York Stock Exchange in early afternoon trade.
