walt disney co/the (DIS) Key Developments
Walt Disney, DreamWorks Animation SKG, Pixar, Lucasfilm, Sony Pictures Animation and Sony Pictures Imageworks Face Anti-Poaching Suit
Sep 10 14
DreamWorks Animation SKG Inc., Walt Disney Co. and its units Pixar and Lucasfilm Ltd., and Sony Corp. units Sony Pictures Animation and Sony Pictures Imageworks are among the defendants in a potential class-action anti-poaching lawsuit filed in the U.S. District Court, Northern District of California. The suit alleges that the visual effects and animation firms "conspired to systematically suppress the wages" of its workers, depriving them of "millions of dollars which defendants instead put to their bottom lines". Pixar and Lucasfilm reportedly agreed not to cold-call each other's employees, to inform the other company when making an offer to the other company's employees and not to increase offers if a job applicant's current employer makes a counteroffer. Such comprehensive "no-raid" agreements eventually spread throughout the visual effects and animation industry and were enforced by human resources and recruiting executives of the defendants, according to the complaint. The suit was filed by former DreamWorks employee Robert Nitsch Jr. on behalf of affected employees who worked for the defendants from 2004 to the present. The plaintiffs are seeking several actions, including class certification, compensatory damages, a permanent injunction prohibiting defendants from anti-poaching methods and a trial by jury.
The Walt Disney Company Presents at Goldman Sachs 23rd Annual Communacopia Conference, Sep-10-2014 12:25 PM
Sep 3 14
The Walt Disney Company Presents at Goldman Sachs 23rd Annual Communacopia Conference, Sep-10-2014 12:25 PM. Venue: Conrad New York: 102 North End Avenue, New York, NY 10281, United States. Speakers: James A. Rasulo, Chief Financial Officer, Principal Accounting Officer and Senior Executive Vice President.
Walt Disney To Sell Radio Stations
Aug 14 14
The Walt Disney Company (NYSE:DIS) plans to divest 23 radio stations. Radio Disney, Inc. will retain its AM station in Los Angeles -- KDIS-AM (1110) and is planning to sell stations in major markets including New York, Chicago and Philadelphia. In all, the company will jettison 22 AM stations and one FM station. Radio Disney’s General Manager Phil Guerini said the changes at the radio network would "result in the elimination of some positions, adjustments to other roles and the addition of some new positions."
The Walt Disney Company Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 28, 2014
Aug 5 14
The Walt Disney Company reported unaudited consolidated earnings results for the third quarter and nine months ended June 28, 2014. For the quarter, the company reported revenues of $12,466 million compared to $11,578 million a year ago. Income before income taxes was $3,670 million compared to $3,093 million a year ago. Net income attributable to the company was $2,245 million or $1.28 per diluted share compared to $1,847 million or $1.01 per diluted share a year ago. Free cash flow was $2,047 million compared to $2,723 million a year ago.
For the nine months period, the company reported revenues of $36,424 million compared to $33,473 million a year ago. Income before income taxes was $9,785 million compared to $7,396 million a year ago. Net income attributable to the company was $6,002 million or $3.40 per diluted share compared to $4,742 million or $2.61 per diluted share a year ago. Cash provided by operations was $6,675 million compared to $6,717 million a year ago. Investments in parks, resorts and other property were $2,248 million compared to $1,809 million a year ago. Free cash flow was $4,427 million compared to $4,908 million a year ago.
The Walt Disney Company and Suddenlink Announce Broad Multi-Year Distribution Agreement
Aug 5 14
Suddenlink and The Walt Disney Company announced a broad multi-year distribution agreement to deliver Disney's robust lineup of top quality sports, news and entertainment content to Suddenlink TV customers across televisions, computers, smartphones, tablets, gaming consoles and connected devices. The renewal agreement enhances the multichannel business model and supports the companies' mutual goal to deliver the best video content to customers across multiple platforms.