Category: Disney Co.

  • Disney Inspires Next Generation of Imagineers through Imaginations Design Competition

    Disney Inspires Next Generation of Imagineers through Imaginations Design Competition

    Every year, Walt Disney Imagineering’s Imaginations Design Competition seeks out and nurtures the next generation of diverse Imagineers—the dreamers and doers who combine storytelling with the latest technologies to create immersive experiences for all Disney theme parks, resorts, attraction and cruise ships worldwide. The competition was started in 1991, by Disney Legend and Imagineering executive, the late Marty Sklar, with hundreds of students from universities across the United States participating over the last 27 years.

    Many of the participants have gone on to internships at Walt Disney Imagineering, and some have even become full-time Imagineers. The program’s continued success inspired a separate version, Disney ImagiNations Hong Kong Design Competition, which launched in 2011 under the sponsorship of Hong Kong Disneyland. This year’s competition was open to students from 18 colleges and universities across Hong Kong, who took on the challenge of designing a Disney-inspired entertainment or recreational experience for a city—anywhere around the world—that may be far from a Disney park or vacation destination. The winning team for 2018 hails from Chinese University Hong Kong.

    Disney Imagineers

    Their project, Daydreamers, conceptualized a massive mobile robot that would escort guests to different destinations around the world, and was singled out for its imaginative concept and elements of surprise. In addition to six to eight weeks of hands-on work experience at Hong Kong Disneyland, the winners received a trip to Walt Disney Imagineering headquarters in Glendale, California, where they joined their U.S. counterparts to go behind-the-scenes, and to meet and network with Imagineers.

    Teams participating in the U.S.-based Imaginations Design Competition were challenged to select an actual abandoned “ghost town” from anywhere in the world and revitalize it, taking into account the historic value of the site, as well as the traditions and communities of the original and surrounding areas. Projects were judged on a variety of criteria, including mastery of skills and talents, guest experience and diversity and market perspective; and the judges also looked for teams’ ability to recognize the cultural nuances of their selected locations and their evaluation of their projects’ impact on their communities.

    Disney Imagineers

    Out of more than 270 teams who submitted projects, six finalist teams were selected to present to Imagineering executives and compete for awards.  A team from Savannah College of Art and Design took top honors for Caguaya, an exploration center that incorporates state-of-the-art tunnels, augmented-reality technology and a fully submersible performance space, all built around the sunken ruins of the 17th century city of Port Royal.

    Disney Imagineers

    The second-place team, also from Savanah College of Art and Design, presented Spaceport Hashima. The design calls for the renovation of existing buildings from a former Japanese ghost town, to create a thriving interplanetary terminal surrounded by a world-class luxury destination resort complete with museums, world-renowned restaurants and lively nightlife, in addition to research and development facilities.

    Disney Imagineers

    Oniba has been imagined as an elaborate vacation spot that is popular for its hot springs and its beautiful natural surroundings. Guests in the park can create a personalized companion and guide, Mabu, that accompanies them through a variety of activities and experiences. The design, from a team of Otis College of Art and Design students, placed third in this year’s competition.

    To learn more about this year’s projects and the design competition, visit DisneyImaginations.com

     

  • $1,000 Cash Bonus Given To 125,000 Disney Employees

    $1,000 Cash Bonus Given To 125,000 Disney Employees

    Walt Disney Co. announced Tuesday, it is giving a one-time cash bonus of $1,000 to 125,000 employees. They are also investing $50 million to create a new higher education program for workers.

    “We are directing approximately $125 million to our cast members and employees across the country and making higher education more accessible with the launch of this new program,” CEO Bob Iger said in a statement.

    Nearly 88,000 hourly employees in the U.S. will be able to take advantage of Disney’s education initiative.

    “I have always believed that education is the key to opportunity; it opens doors and creates new possibilities,” Iger said. “Matched with the $1,000 cash bonus, these initiatives will have both an immediate and long-term positive impact.”

    The new education initiative is designed to cover tuition costs for hourly employees, and going forward it will continue to receive $25 million in annual funding, Disney’s statement said.

    The entertainment giant is just one of a number of companies handing back money to its employees since the December passage of the Tax Cuts and Jobs Act of 2017, which lowered tax rates for corporations. AT&T, Wells Fargo, Boeing, Comcast, Bank of America and Walmart are just a few who have passed along the new tax benefits to workers.

    As for the bonuses, they are for full and part-time employees in the United States who have been with the company since Jan. 1. For those who are eligible the bonus will be given in two parts, the first in March and the next in September. Executive level employees are exempt.

    The two initiatives will cost the company $175 million this fiscal year. Disney said its current ongoing education reimbursement program will continue to be open to all full-time employees with no changes.

     

  • Kim Kardashian Gets $100,000 Worth of Disney Stock For Christmas

    Kim Kardashian Gets $100,000 Worth of Disney Stock For Christmas

    Everyone loves to receive a little Disney magic for Christmas, but can you imagine getting $100,000 in Disney Stock under the tree?

    If you wanted to give someone a nice Disney related gift, I can’t think of a better stock-ing stuffer for Christmas.  Kim Kardashian was surprised by her husband, Kanye West with $100,000 worth of Disney Stock this Christmas and the reality TV star now actually owns a little piece Disney.

    Disney Stock

    She was also gifted a number of other blue chip stocks from Kanye, but the 920 shares of Disney by far stands out as the most magical!

    Sharing the news on her Instagram story, the Keeping Up with the Kardashians star, told her followers, “Okay, so for one of my Christmas presents from Kanye he gives me this little box with a Disney Mickey toy”.

    Disney Stock

    The toy just a little teaser to her actual gift as she revealed that the small Mickey Mouse wasn’t her only present.

    Kardashian West’s gave us a peak at her stock certificates including the one for The Walt Disney Company stating the reality star had received “a gift from her husband” of 920 shares to the company that is valued at approximately $100,000.

    While stocks might be an untraditional Christmas gift, it’s better than a sack of coal and Kardashian clearly loved her present from West because she captioned the video “best husband alert!”

    Kanye gifts Kim with stocks 💰 🎁 #kimkardashian

    A post shared by Kim Kardashian Snapchats 🍑 (@kimksnapchats) on

  • VIDEO: Union Workers Reject Disney’s Latest Wage Proposal

    VIDEO: Union Workers Reject Disney’s Latest Wage Proposal

    Chanting turned to cheering Wednesday as Walt Disney World union members overwhelmingly voted ‘No’ on a contract that would have given employees a raise of at least 50 cents an hour. Disney says “they are disappointed”, and they believe the 6 to 10 percent wage increase was fair but they will continue to work with the union on negotiations.

    New Disney employees earn $10 an hour currently, but the union wants to raise average worker pay to $15 an hour in an effort to reduce poverty among their represented members.

    Almost 10,000 votes were cast, the highest turnout ever for the Service Trades Council Union and approximately 93 percent of dues-paying members voted to turned down the two-year contract. The STCU has been negotiating wages with Disney and is a coalition of six unions representing nearly 36,000 Walt Disney World cast members.

    The rejected offer would have seen full and part-time cast members receive a 50 cent or 3 percent raise per year for two years, whichever was higher for the cast member, retroactive to Sept. 24. They also would have seen a $200 bonus. Cast members who receive tips would not be eligible for the wage increase, but would qualify for the $200 payout.

    Disney says they already pay $2-per-hour more than the federally required minimum wage and it seems unlikely the workers will actually see $15 an hour. The final outcome effects employers throughout the Orlando area as their employee wages usually follow Disney’s very closely. In 2014 Disney agreed to raise the minimum wage to $10-per-hour by 2016 and other unionized and non-unionized companies followed suit, including Universal Orlando.

    The next step for the unions appears to be in February, where they will regroup for further negotiations.

  • ESPN President John Skipper Resigns

    ESPN President John Skipper Resigns

    President of ESPN and co-chairman of the Disney Media Networks John Skipper resigned on Monday citing substance addiction. President of the company since 2012, Skipper recently signed a contract extension through 2021.

    While Disney chairman and chief executive Bob Iger seeks a replacement, George Bodenheimer, ESPN’s president from 1998 to 2011 and its executive chairman until May 2014, will take the reins for the next 90 days as acting chairman of the company.

    Skipper, 61, didn’t offer any details of the nature of his substance abuse problem, but in a statement said, “I come to this public disclosure with embarrassment, trepidation and a feeling of having let others I care about down.” He continued, “As I deal with this issue and what it means to me and my family, I ask for appropriate privacy and a little understanding.”

    To many at ESPN the announcement came as a quite a surprise after his recent contact extension. He had been trying to get the company back on track and pave the way forward amidst a rapidly decreasing number of cable subscribers and a declining interest in professional sports. Not to mention his help would have been instrumental in helping Disney integrate the various Fox sports assets they will be acquiring.

    Bob Iger, chairman and CEO of the Walt Disney Company, the parent company of ESPN, said he would join Skipper’s “many friends and colleagues across the company in wishing him well during this challenging time.”

     

     

  • Bob Iger Officially Extends Contract As Disney CEO Through 2021

    Bob Iger Officially Extends Contract As Disney CEO Through 2021

    So it looks like any potential presidential run for Chairman and Chief Executive Bog Iger in 2020 is now on hold. Thursday Walt Disney Co. announced that his contract with the mouse has been extended through December 2021.

    The move comes on the heels of Disney announcing its $52.4-billion deal to buy much of 21st Century Fox’s media assets. Iger’s contract extension is no surprise and was expected in the hopes of giving the company stability as it integrates Fox’s assets.

    Iger is no stranger to bringing in new assets and integrating them into the Disney family. After taking over in 2005 he led the acquisitions of Pixar, Marvel, and Lucasfilms giving him experience like no one else. He has the most experience and makes the most sense if the deal is to succeed. The deal is valued at more than $50 billion and a smooth transition is exactly what investors want.

    Disney said Iger was staying “at the request of both 21st Century Fox and the Disney board of directors.” The company’s overall stock-market value has soared with Iger at the helm and the consistency should keep the board and investors at ease.

    Under the terms of his new contract Iger would be well compensated for his efforts, he is expected to receive more than $100 million in stocks based on Disney’s current stock market value.

    According to a regulatory filing his base salary will increase 20% at the beginning of 2018 bringing him to $3 million a year. That will rise to $3.5 million once the Fox transaction closes.

    The deal gives Disney even more time to find a suitable successor.  It will take time to get the necessary federal approvals for the acquisition and even time to integrate the assets after that. Disney has some potential internal candidates in consideration, but it seems increasingly likely the company will look for an outside candidate. It is still possible the deal would see James Murdoch as a replacement after the integration is complete and Iger steps down, but Disney has yet to offer him any position in the company.

     

     

     

     

  • Surprise Visit From Mickey Mouse And $1.1M Donation For Boys & Girls Clubs of Central Florida

    Surprise Visit From Mickey Mouse And $1.1M Donation For Boys & Girls Clubs of Central Florida

    During a surprise visit from Mickey Mouse, students of the new downtown Orlando location of the Boys & Girls Clubs were among the first to learn that Disney Parks is donating $1.1 million to the organization this holiday season. The special donation will help cover construction costs at the Orlando location.

    Just in time for the holidays, Disney Parks is lifting spirits and keeping future’s bright for thousands of children and teens of Boys & Girls Clubs of Central Florida.

    As you can see in the photo above, the look of pure joy on the students’ faces as Mickey surprised them was one of the greatest gifts from this holiday season. It was one of the many moments we cast members experience that remind us why we enjoy our work.

    The donation represents the hard work Boys & Girls Clubs of Central Florida have demonstrated over the past seven decades inspiring children and teens to realize their full potential. Disney’s partnership dates back to Walt Disney himself, who served as spokesman and honorary board member for the organization.

  • Disney Buys 21st Century Fox for $52 Billion

    Disney Buys 21st Century Fox for $52 Billion

    Walt Disney Co. will purchase 21st Century Fox in deal that brings an end to era of the ‘Big Six’ studios. Disney Now takes ownership of one of the United States’ largest movie studios in a deal that solidifies their position as media super giant. With this deal Disney now owns seven of the top ten worldwide highest grossing movies of all time.

    Founded in 1935 with the merger of Twentieth Century Pictures and Fox Films, the studio was in its earlier years known for stars like Henry Fonda and Shirley Temple and films including “Gentleman’s Agreement,” “The Sound of Music” and the Liz Taylor-Richard Burton epic “Cleopatra,” which became a cinematic icon but nearly bankrupted the studio during its troubled production. In 1977 it released “Star Wars,” the beginning of a relationship with George Lucas that would span six films and generate $4.6 billion at the box office.

    There was so much more at stake here for Disney than the obvious rights to the X-Men and Fantastic Four brands. They now finally have the distribution rights for the original Star Wars trilogy and prequel trilogy. Most of those rights reverted back to Disney in 2020, but the original 1977 film’s rights would have remained at Fox.

    Another bonus is the Avatar franchise. With an entire land devoted to the franchise holding ownership over it was of great importance to the company. James Cameron’s Avatar is a potentially massive film franchise that Disney already has a vested interest in seeing succeed. It means potentially huge business not just at the movie theater, but also when it comes to merchandise and theme park success.

    Disney now get its hands on the FX channel. And of course the vast, impressive, lucrative library of Fox movies and TV series from past and present, to add to their upcoming streaming service and, probably, to deny those movies and series to Netflix, along with the Disney, Marvel, Pixar, and Lucasfilm properties.

    Disney also gets Fox’s 30 percent stake in Hulu. Disney already has a 30 percent stake in Hulu, so that arrangement now gives the company majority ownership of the streaming platform. And as Disney prepares to launch its own streaming services in 2019, it could become an actual contender against Netflix by combining its existing content with Fox’s movie, television and sports content.

    The Murdoch family will continue to maintain ownership over the sports and news divisions while Disney would get the studio rights to everything on the film side according to the report.

    Only time will tell, but it seems Bob Iger has positioned Disney once again in a pivotal position in the market.

  • Disney Music Exec Suspended For Child Sex Abuse Charges

    Disney Music Exec Suspended For Child Sex Abuse Charges

    Disney suspended, 58-year-old Jon Heely, the director of music publishing late on Friday, The move came after the company was informed he has been charged with three felony counts of child sexual abuse.

    “Immediately upon learning of this situation tonight, he has been suspended without pay until the matter is resolved by the courts,” a Disney spokesperson said.

    He was arrested and charged with three counts of lewd and lascivious acts on a child, Variety reported. Heeley is accused of abusing two underage girls approximately ten years ago. One alleged victim was 15. The other was abused for four years starting at the age of 11, according to the charges.

    He was arrested on Nov. 16 and six days later he was released on $150,000 bail. Heely pleaded not guilty at his arraignment at the San Fernando courthouse on Thursday. He is due back in court on Jan. 10. If convicted, he faces up to nine years and three months in prison.

    Heely’s attorney, Robert Helfend, denied the charges. “He vehemently denies these allegations and we will be fighting until the end to clear his name,” Helfend said. “It’s a shame, that’s all I’ve got to say.”

    Heely, who oversees the licensing of music from Disney films, pleaded not guilty on Thursday. He faces up to nine years and three months in prison if convicted.
    He was suspended from Disney late Friday, with a spokesperson telling Variety, “Immediately upon learning of this situation tonight, he has been suspended without pay until the matter is resolved by the courts.”

    Heely’s Twitter bio reads, “Disney Concerts and living to glorify God in all things.”

  • Bob Iger Could Remain CEO in Disney and Fox Deal

    Bob Iger Could Remain CEO in Disney and Fox Deal

    The Disney-Fox deal is heating up once again with new details and this may put investors and the public more at ease. Bob Iger may extend his contract and remain CEO beyond 2019 if the deal goes through.

    It was reported Tuesday that Fox-head James Murdoch could wind up succeeding Iger if the deal went through, but according to multiple sources it’s likely that if it does goes through, Disney CEO Bob Iger will likely remain with the company. He would stay at Disney to oversee any potential merging of Disney and Twenty-First Century Fox assets.

    Iger is no stranger to bringing in new assets and integrating them into the Disney family. After taking over in 2005 he led the acquisitions of Pixar, Marvel, and Lucasfilms giving him experience like no one else. He has the most experience and makes the most sense if the deal is to succeed. The deal is valued at more than $60 billion and a smooth transition is exactly what investors want.

    It will take time to get the necessary federal approvals for the acquisition and even time to integrate the assets after that, which could leave Iger at the helm through 2020, maybe even later. It is still possible the deal would see James Murdoch as a replacement after the integration is complete and Iger steps down.