Latest News

Iger To Address Conference

2/23/2006

Media Alert

BOB IGER, PRESIDENT AND CHIEF EXECUTIVE OFFICER, TO SPEAK AT THE BEAR STEARNS 19TH ANNUAL MEDIA CONFERENCE


BURBANK, Calif.

A general discussion with Bob Iger, president and chief executive officer, The Walt Disney Company (NYSE: DIS) will be hosted by Bear Stearns at its Nineteenth Annual Media Conference on Monday, February 27, 2006, at 7:45 p.m. EST/4:45 p.m. PST.

To listen to a live Webcast of the session, please point your browser to www.disney.com/investors approximately fifteen minutes prior to the start time.

A re-play will be provided through Monday, March 13, 2006, at 4:00 p.m. PST.

(source: Disney Investor Relations)
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English-Language DMC Poster

2/21/2006

Update Feb 21:

We've been informed by the studio that this is an officially-released poster. We've replaced the previous image with one a bit larger and clearer.

Feb 17:

An anonymous source has provided us with an image purported to be the English-language version of the Dead Man's Chest advance one-sheet poster.


Poster art © Disney


We currently have no official confirmation of the validity of this item. We will update this information on an as-needed basis.
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Disneyland Resort Confirms POTC Pin Event

2/20/2006

As reported here on January 12, Disneyland has announced the "Pirates of the Caribbean: Legend of the Golden Pins" event scheduled for summer 2006. Click this link for the most up-to-date information.
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Michelle Kwan Signs Disney Deal; Marty Sklar Changes Role

2/16/2006

Media Notice

February 16, 2006

FIGURE SKATING CHAMPION MICHELLE KWAN TO SERVE AS CELEBRITY REPRESENTATIVE AND SPOKESPERSON FOR DISNEY

BURBANK, Calif., February 16, 2006

Michelle Kwan, the most decorated figure skater in U.S. history, will serve as a celebrity representative and spokesperson for businesses across the entire range of The Walt Disney Company (NYSE: DIS), it was announced today by Matt Ryan, senior vice president, Brand Management, The Walt Disney Company. Earlier this week, with a magnanimous gesture that exemplified sportsmanship, selflessness and respect for her sport, Michelle Kwan withdrew herself from the 2006 Winter Olympic Games due to injury.

As part of the multiyear agreement, Kwan may participate in advertising, promotions or public service announcements involving all of Disney's businesses, make guest appearances on original programming and personal appearances at live Disney events, and take part in Disney's company-wide initiatives.

"Professionally and personally, Michelle is a true champion. While her magnificent artistry on the ice has been applauded the world over, she also sets the standard for grace and dignity, which truly accounts for her universal appeal," said Ryan. "We at Disney are honored to be associated with Michelle and know that her unique style and commitment to quality will be enjoyed and appreciated by our audiences everywhere."

Kwan authored the motivational book The Winning Attitude! What It Takes To Be A Champion and contributed to the fictional book series Michelle Kwan Presents Skating Dreams published by Disney Publishing Worldwide and has appeared in Disney and ABC television specials. Michelle starred in the primetime TV special Reflections on Ice: Michelle Skates to the Music of Disney's Mulan, which was selected as the best-produced skating special of 1998-99.

In her career, Kwan has won an unprecedented 43 championships, including five World Championships, eight consecutive and nine overall U.S. National Championships and two Olympic medals. She is the only woman in figure skating history to reclaim the World title three times, and she holds or shares nearly a dozen U.S. records. Kwan began skating at the age of five and won her first competition when seven years old.

(source: Disney Corporate)

ed note: Could we see Ms. Kwan at the grand opening of the refurbished Pirates attractions in Anaheim and Orlando? Stay tuned...
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UPDATE

Long-time Disney executive Marty Sklar has stepped down as vice chairman and principal creative executive for Walt Disney Imagineering. Sklar, who has spent the past fifty years working for Disney, will assume the position of "Walt Disney Parks and Resorts Imagineering Ambassador," a role that was apparently created for Sklar and that has yet to be clearly defined.

Jay Rasulo, chairman of Walt Disney Parks and Resorts, issued the following memo in regard to Sklar's contribution to the company and his future within the company:

After 50 years of exemplary service with The Walt Disney Company, Marty Sklar, Vice Chairman and Principal Creative Executive for Walt Disney Imagineering, has agreed to serve as Walt Disney Parks and Resorts Imagineering Ambassador. This new role will enable us to continue to leverage Marty's unrivaled experience and passion for Disney creativity and imagination. As we have seen during the course of the Happiest Celebration On Earth, our Guests' devotion to our stories, characters, parks and resorts is incredibly strong and heartfelt; and there is no individual better suited than Marty to connect with those emotions and represent the innovative spirit of Imagineering.

Marty has played a key role in the creation of every Disney theme park and resort around the world, including the original Disneyland. In fact, he joined the Company just one month before the official grand opening of Disneyland. His close working relationship with Walt Disney, as well as his immeasurable contributions to the development and evolution of Walt Disney Imagineering as a ground-breaking creative organization, were officially recognized when he was named a Disney Legend in 2001.

Marty and I agree that the world-renowned creativity that elevates and separates Disney in the minds of our Guests is in excellent hands. We have no doubt that the creative leadership team of WDI, including Tom Fitzgerald, Executive Vice President and Senior Creative Executive for Walt Disney Imagineering; Anne Hamburger, Executive Vice President for Disney Creative Entertainment; Bruce Vaughn, Vice President R&D; and Wing Chao, Vice Chairman, Asia Pacific Development, Walt Disney Parks and Resorts and Executive Vice President, Master Planning, Architecture and Design, Walt Disney Imagineering, will ensure that our parks, resorts and other venues carry on our tradition of imagination and ingenuity.

WDI and Disney Creative Entertainment will continue to attract and partner with great creative talent, and will continue to evolve in order to create and deliver the next generation of Disney storytelling. In addition, we look forward to the energy and insight Imagineering will get from John Lasseter in his new role as Principal Creative Advisor.

Just as it is impossible to describe the breadth and depth of Marty's contributions to Imagineering, no words can truly express the gratitude we have for his unwavering commitment to Imagineering and The Walt Disney Company. Please join us in congratulating Marty on his golden anniversary with the Company in June and the new role he will play as we move forward.


In a memo, Sklar said "I knew that as my 72nd birthday and my 50th Disney anniversary approached, I would look for new challenges. So when Jay Rasulo asked me to talk about the future, I was 'all ears' to a challenging proposal...It not only seems to be one of those ideas that is overdue, but it was clear to me that I am the perfect casting (perhaps the only candidate) capable of originating and organizing this assignment."

(source: Hollywood Reporter and unnamed sources)
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New Dead Man's Chest Poster Released?

2/15/2006

The image displayed here on 8 February, identified as the cover of the annual shareholder report, is being distributed in a slightly modified form as an international version of the theatrical one-sheet for the upcoming release of Pirates of the Caribbean: Dead Man's Chest.


Poster art © Disney


KeepToTheCode.com's sources within the studio are in the process of confirming that this poster is indeed authentic and is being used to promote the film outside the US. We will update this item on final confirmation of its authenticity.

As is evident in a comparison of the two images, there have been some changes made, most notably to the background.


Artwork © Disney


Update 17 February:

Having received no information to the contrary, we're filing this item under "authentic."
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Hahn Named Interim Head Of Feature Animation; KTTC Staff On Discovery Channel's "Monster House"

2/13/2006

Walt Disney Feature Animation producer Don Hahn has been named interim head of WDFA by studio chairman Dick Cook, according to the Hollywood Reporter.

In an e-mail sent to staff late last week, Cook wrote in part "I am pleased to announce that Don Hahn has graciously agreed to be the interim head of Disney Feature Animation until the Pixar acquisition is complete...Effective immediately, Don will be responsible for all aspects of this incredible organization. I know that you will give Don your full support and cooperation."


Don Hahn (standing) with (L to R) KTTC member Ahoy Natey and KTTC co-owners Bacchus and Van der Decken on the set of one of Hahn's films. Photo © Disney


Hahn's credits include Beauty And The Beast and The Lion King among many others. Lorenzo, a short animated film co-executive produced by Hahn and Roy E. Disney, was nominated for an Academy Award® at the 77th annual awards presentation.


Lorenzo poster art © Disney.


Hahn's filmography can be viewed at this link, courtesy of the Internet Movie Database.
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KeepToTheCode.com's own administration staffer Captain Andros can be seen on the Discovery Channel's "Pirate House" episode airing tonight (13 February, 7pm--check local listings for times). Andros and his shop, Pirates 'N Plunder, were included in the episode's production.

The following brief description is from the Discovery Channel site:

Mercy loves the sea and the rebellious lifestyle that comes with it. She wants her home turned into a pirate house reminiscent of the swashbuckling days of yore.

More information on the show is available at this link.
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Disney Releases Annual Report

2/08/2006

The Walt Disney Company has made its 2005 annual report available on line. The report details financial performance of all of the company's divisions over the previous year and offers previews and projections for the current year. Hard copies are mailed to shareholders in advance of the annual shareholder meeting.


Artwork © Disney

Click the cover to go directly to the annual report (requires Adobe Acrobat Reader)


This year's shareholder meeting is scheduled for Friday, March 10, 2006 at 10 am PST at The Arrowhead Pond in Anaheim, California.

(source: Disney Investor Relations)
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Disney/Citadel Merger; Financials Reported

2/07/2006

Press Release

ABC RADIO TO MERGE WITH CITADEL BROADCASTING


Combination to Create Third Largest National Radio Group; Farid Suleman to be CEO

Disney Shareholders to Hold 52% of Combined Company


Burbank, CA and Las Vegas, NV

The Walt Disney Company (NYSE: DIS) and Citadel Broadcasting Corporation (NYSE: CDL) today announced that the Board of Directors of both companies have approved a definitive agreement to combine ABC Radio, which includes 22 radio stations and the ABC Radio Networks, with Citadel Broadcasting. The newly combined company, to be named Citadel Communications, will be the third largest radio group in the United States, with a strong national footprint reaching more than 50 markets.

Following the completion of the merger, Disney shareholders will own approximately 52% of Citadel Communications and The Walt Disney Company will retain $1.4 to $1.65 billion in cash depending on the market price of Citadel Broadcasting at the time of closing. Citadel shareholders will own the remaining 48% of the combined company. Valued at approximately $2.7 billion, the deal is expected to be completed by the end of the year, subject to regulatory approvals.

"Our ABC Radio business represents a premier set of assets that have been exceptionally well-managed. ABC Radio and Citadel are a strong strategic fit that will create one of the country's largest radio station groups," said Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company. "With this merger we have a unique opportunity to offer Disney shareholders ownership in a new radio leader that will be well positioned for long-term success."

Farid Suleman, Citadel Chief Executive Officer, will be CEO and lead the management team of the new company. Suleman, a seasoned industry leader with both radio station and radio network experience, is the former CEO of Infinity Broadcasting.

"By joining forces to form Citadel Communications, our new company can continue to deliver on Citadel's impressive record of success as well as pursue many exciting growth initiatives in the future," said Suleman. "We look forward to welcoming our talented new colleagues at ABC Radio who have a long history of strong market performance, and are eager to work together to integrate ABC's top-notch assets into our new strategically enhanced radio group."

After the transaction, Citadel Communications will be comprised of 177 FM stations and 66 AM stations in the nation's leading markets, in addition to the ABC Radio Networks. As a company focused exclusively on the radio business, Citadel Communications will have the benefit of scale in an increasingly competitive industry.

As part of the transaction, 14 FM and 8 AM ABC radio stations in nine major markets, including New York, Los Angeles, Chicago, San Francisco and Dallas, will join Citadel Communications.

In addition, the merger includes the ABC Radio Networks, which create and distribute programming to more than 4,000 affiliates. The programming includes popular syndicated radio programs such as Paul Harvey News and Comment, The Sean Hannity Show and The Tom Joyner Morning Show, as well as 24/7 music formats.

The assets joining the new company had 2005 revenue of approximately $575 million and operating income of approximately $200 million.

Listeners of ABC News Radio will continue to enjoy the same broadcasts on their favorite radio stations. Through an exclusive 10-year licensing agreement, Citadel Communications will deliver ABC News Radio programming to terrestrial radio stations. Disney will continue to retain rights to deliver ABC News content in other formats such as broadband, wireless and satellite.

ESPN Radio and Radio Disney are not included in the transaction.

The transaction is subject to review by the antitrust agencies, approval by the Federal Communications Commission, the receipt of a tax ruling from the Internal Revenue Service, a tax opinion from Dewey Ballantine LLP, and other customary closing conditions. Affiliates of Forstmann Little & Co., holding approximately 67% of the shares of Citadel Broadcasting, have approved the transaction.

Transaction Process

Prior to the merger with Citadel Broadcasting, Disney will distribute ownership of the ABC Radio entity to Disney shareholders in either a spin-off or split-off transaction. Disney will determine which approach it will take later in the year based on market conditions and other considerations at the time. A spin-off would provide a pro-rata distribution of shares to Disney shareholders. A split-off would allow Disney shareholders the opportunity to exchange Disney shares for stock in the radio business. Under terms of the transaction, Disney will retain $1.4 to 1.65 billion in cash depending on the market price of Citadel Broadcasting at the time of closing. The deal is structured as a "reverse Morris Trust" transaction and is expected to be tax-free to Disney shareholders for federal income tax purposes.

The Disney Board was advised by Bear, Stearns & Co., Goldman, Sachs & Co. and Lazard, Freres & Co. J.P. Morgan Securities Inc. advised and provided a fairness opinion to the Board of Directors of Citadel. Merrill Lynch & Co. also provided a fairness opinion to the Citadel Board.

Citadel Broadcasting currently owns and operates 163 FM and 58 AM radio stations in 49 markets located in 24 states across the United States. Its well-clustered radio station portfolio is diversified by programming formats, geographic regions, audience demographics and advertising clients.

ABC Radio Station Group

New York, NY WABC - AM WPLJ - FM
Washington, D.C. WMAL - AM WRQX - FM WJZW - FM
Atlanta, GA WKHX - FM WYAY - FM
Detroit, MI WJR - AM WDRQ - FM WDVD - FM
Chicago, IL WLS - AM WZZN - FM
Minneapolis, MN KQRS - FM KXXR - FM Drive 105 - FM
Dallas, TX WBAP - AM KSCS - FM KTYS - FM
Los Angeles, CA KABC - AM KLOS - FM
San Francisco, CA KGO - AM KSFO - AM

About The Walt Disney Company:

The Walt Disney Company (NYSE:DIS), together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with four business segments: media networks, parks and resorts, studio entertainment and consumer products. Disney is a Dow 30 company, had annual revenues of nearly $32 billion in its most recent fiscal year, and a market capitalization of approximately $51 billion as of February 3, 2006.

Forward-Looking Statements:

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of the views and assumptions of the management of The Walt Disney Company and Citadel regarding future events and business performance as of the time the statements are made and they do not undertake any obligation to update these statements. Actual results may differ materially from those expressed or implied. Such differences may result from legal or regulatory proceedings or other factors that affect the timing or ability to complete the transactions contemplated herein, actions taken by either of the companies, including restructuring or strategic initiatives (including capital investments or asset acquisitions or dispositions), as well as from developments beyond the companies' control, including changes in domestic and global economic conditions, competitive conditions and consumer preferences. Such developments may affect assumptions regarding the operations of the businesses of the ABC Radio assets and Citadel separately or as combined entities including, among other things, the timing of the transaction and the performance of the businesses. Additional factors that may affect results are set forth in the Annual Report on Form 10-K of The Walt Disney Company for the year ended October 1, 2005 under the heading "Item 1A-Risk Factors" and Annual Report on Form 10-K of Citadel Broadcasting Corporation for the year ended December 31, 2004 under the heading "Item 1-Risk Factors".
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Press Release

THE WALT DISNEY COMPANY REPORTS RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2005


Click here to read the report released yesterday. (requires Adobe Acrobat Reader)

(source: Disney Corporate Communications)
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Disney Announces Changes To Pirates Attractions

2/02/2006

Press Release

02 February 2006

CAPTAIN JACK SPARROW TO JOIN THE AUDIO-ANIMATRONICS CREW OF DISNEY'S PIRATES OF THE CARIBBEAN ATTRACTION

Classic Attraction in California and Florida Adding New Characters Inspired by Hit Film Franchise Disney's Pirates of the Caribbean


ANAHEIM, Calif. / ORLANDO, Fla. (Feb. 2, 2006)

First the theme park attraction inspired the movie - now the movie is inspiring the attraction.

Pirates of the Caribbean, the classic Disney theme park adventure brought to the big screen in Pirates of the Caribbean: The Curse of the Black Pearl, is adding new characters and features from the blockbuster entertainment franchise and debuting when the next adventure begins in Pirates of the Caribbean: Dead Man's Chest.

Both the Disneyland Resort in California and Walt Disney World Resort in Florida will close the attraction in March to complete the updates in time for the opening of Pirates of the Caribbean: Dead Man's Chest on July 7. The attraction will re-open at Disneyland on June 24 and in Florida's Magic Kingdom on July 7.

The attraction will feature the addition of two of Hollywood's most infamous buccaneers, Captain Jack Sparrow and his nemesis Barbossa. Joining the wildest crew that ever sacked the Spanish Main, Captain Jack and Barbossa add an exciting new twist to the attraction's original storyline as they race to be the first to claim a cache of plundered treasure.

"Successfully adding the popular characters from the 'Pirates of the Caribbean' films with the mythology of our classic attraction is an example of Disney synergy and Walt Disney Imagineering at its finest," said Jay Rasulo, chairman of Walt Disney Parks and Resorts. "These additions will result in an exciting new chapter for the attraction and an unforgettable experience for our guests, giving them another reason to come and be a part of our continuing 50th anniversary celebration."

Woven into some of the attraction's most memorable scenes, the rival swashbucklers will be seen interacting with some of the more familiar Audio-Animatronics buccaneers found inside the ride-thru adventure. Also making a guest appearance is the ghostly Davy Jones from the second movie in the series, Pirates of the Caribbean: Dead Man's Chest. But new characters are only the beginning. New special effects will also be added to enhance the "Pirates of the Caribbean" theme park experience.

"The creative legacy of 'Pirates of the Caribbean' has come full circle with the attraction initially inspiring our highly successful film franchise and now the films inspiring exciting additions to the attraction itself," said Dick Cook, chairman of The Walt Disney Studios. "The attraction enhancements capture the same spirit, swashbuckling humor and action that moviegoers loved in the first `Pirates of the Caribbean' which will continue with the highly anticipated new tales this summer and beyond."

Created under the direct creative supervision of Walt Disney himself, Pirates of the Caribbean is the quintessential Disney theme park adventure, a swashbuckling voyage that transports guests back to the days when pirates and privateers roamed the Spanish Main. Starring a comical cast of rascals, scoundrels, villains and knaves, the world-famous attraction sends guests of all ages on a boat ride through mysterious caverns where "Dead men tell no tales" and then into a colonial era Caribbean seaport under siege by a band of fun-loving pirates. The attraction's jaunty theme song, "Yo Ho (A Pirate's Life for Me)," sets the show's light tone with its tongue-in-cheek depiction of high-seas lawlessness.

The original incarnation of Pirates of the Caribbean premiered on March 18, 1967, in New Orleans Square at Disneyland in California. Featuring more than 120 Audio-Animatronics performers, lavishly decorated sets and special effects, it's considered to be one of the most spectacular and enduring attractions ever created for a theme park. With its setting revised slightly to fit a Caribbean Plaza location in Adventureland, the attraction opened to guests at Walt Disney World's Magic Kingdom on December 15, 1973. More than 500 million people have experienced the rollicking fun of Pirates of the Caribbean in California and Florida over the past 39 years.

"Enhancing the classic Pirates attractions with new characters and new technology will ensure their relevance and place in Disney theme parks as timeless adventures," said Tom Fitzgerald, senior creative executive for Walt Disney Imagineering. "We're adding a layer of storytelling from the films to the attraction while retaining all the familiar elements that make it vibrant and exciting for every age group."

The Pirates of the Caribbean additions are one part of the "Happiest Celebration on Earth," an 18-month salute (continuing through 2006) to 50 years of Disney park magic around the globe that started with the opening of Walt Disney's original park, Disneyland, in 1955.

(source: Disneyland Resort Media Relations)
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Oscars To Hold Charity Fundraisers

2/01/2006

Press Release

Oscar Night® to Benefit Charities Across America


Beverly Hills, CA

On Oscar® Sunday, March 5, charities in 47 cities, including the American Red Cross in New Orleans, will throw official Oscar viewing parties during the 78th Academy Awards® ceremony as part of Oscar Night America, the Academy of Motion Picture Arts and Sciences' grassroots outreach program.

The Academy sanctions charities across the country to host glamorous Oscar viewing parties on Oscar Night with proceeds directly benefiting the charities. All parties will feature the live broadcast of the Awards Presentation, while many organizers will integrate Hollywood party elements including a red carpet for arrivals, local celebrities, photographers/"paparazzi," predict-the-winner pools and entertainment.

The 2006 Oscar Night America charities and cities are:

Children's Hospital of Orange County, Orange, CA
Center for Family Resources, Atlanta, GA
Austin Film Festival, Austin, TX
AIDS Interfaith Residential Services, Baltimore, MD
The Ellie Fund, Boston, MA
Shea’s Performing Arts Center, Buffalo, NY
Charlotte Symphony, Charlotte, NC
Chicago Academy of the Arts, Chicago, IL
People Working Cooperatively, Inc., Cincinnati, OH
Independent Pictures, Cleveland, OH
Arthritis Foundation, Columbus, OH
USA Film Festival, Dallas, TX
Denver Film Society, Denver, CO
Ilitch Charities for Children, Detroit, MI
Forsyth Council for Children and Families, Greensboro/Winston-Salem, NC
Junior League of Greenville, Greenville, SC
Connecticut AIDS Residence Coalition, Hartford, CT
Hawaii International Film Festival, Honolulu, HI
Ronald McDonald House, Houston, TX
Variety of Greater Kansas City, Kansas City, MO
Arthritis Foundation, Las Vegas, NV
Wolfe Street Foundation, Little Rock, AR
Family & Children First, Louisville, KY
Ronald McDonald House, Memphis, TN
Miami Beach Film Society, Miami, FL
COA Youth and Family Centers, Milwaukee, WI
Minnesota AIDS Project, Minneapolis, MN
Belcourt Theatre, Nashville, TN
American Red Cross, New Orleans, LA
Alzheimers Association, Omaha, NE
Variety of Orlando, Orlando, FL
Take Charge! Cure Parkinsons, Palm Beach County, FL
Volunteers of America, Philadelphia, PA
Arthritis Foundation, Phoenix, AZ
Oregon Film & Video Foundation, Portland, OR
American Diabetes Association, Providence, RI Artsplosure, Raleigh NC
Capital City AIDS Fund, Sacramento, CA
Cinema St. Louis, St. Louis, MO
Utah AIDS Foundation, Salt Lake City, UT
Special Olympics Texas, San Antonio, TX
Visual Arts Foundation, San Diego, CA
California Film Institute, San Francisco, CA
Starlight Starbright Children's Foundation, Seattle, WA
Tampa Theatre, Tampa, FL
Fox Tucson Theatre Foundation, Tucson, AZ
First Star, Washington, D. C.

Since its inception in 1994, the program has generated nearly $15 million in funding for a wide spectrum of charitable organizations - every cent staying within the community where it was raised, none going to the Academy.

Last year, 44 charities hosted viewing parties for 15,400 guests, raising nearly $2.2 million.

In order to set these parties apart from the thousands of other events taking place on Oscar Night, each ONA party receives copies of the commemorative "Black Tuxedo" and "White Gloves" posters, official Academy Awards ceremony programs for guests, and other support materials.

A complete list of contact, venue and ticket information for your local ONA party can be found at www.oscar.com.

Academy Awards for outstanding film achievements for 2005 will be presented on March 5, 2006, at the Kodak Theatre at Hollywood & Highland®, and televised live by the ABC Television Network beginning at 5 p.m. PST. A one-hour red carpet arrivals show will precede the telecast at 4 p.m. PST.

ed note: Those interested in attending an event can jump directly to the contact information pages beginning at this link.

(source: Academy of Motion Picture Arts and Sciences)
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