Word: katzenberg
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...lastly, there is CEO Michael Eisner's ongoing battle with former studio boss Jeffrey Katzenberg. Hearings on exactly how much Disney owes Katzenberg continued last week. The decision could eventually cost several hundred million dollars. Says analyst David Londoner of Schroder & Co.: "It's a great company, but they're going through a soft period, and it's not obvious when they're going to come out of it." Better launch that stock soon...
...value in the past bull-market year. Costs have zoomed: a billion here for the Animal Kingdom theme park, $700 million there for a couple of cruise ships--eventually it adds up. And for months CEO Michael Eisner has been on the defensive in a suit brought by Jeffrey Katzenberg, who ran the film studio until he was pushed out in 1994, for a share of the company's profits. That could cost $500 million. After a palmy decade, Walt's successors are finding it's a jungle out there...
...JEFFREY KATZENBERG You just won the Mouse trial. What are you going to do next? "I'm going to steer clear of Disneyland...
...JEFFREY KATZENBERG, former Disney filmmaking big cheese; his ongoing lawsuit against Walt Disney Co.; in Los Angeles. A judge ruled that Katzenberg is owed a slice of the profits, plus interest, from films and related products he oversaw as Disney's studio chief from 1984 to 1994. The trial resumes this week to determine Katzenberg's compensation, which could hit the quarter-billion-dollar mark...
MICHAEL EISNER Trial reveals Disney boss derided Katzenberg as "the little midget." Little Mermaid wants blood...