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New model Disney roars ahead, Guardian Unlimited, 2006-11-20

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  • New model Disney roars ahead, Guardian Unlimited, 2006-11-20

    Beset by problems only last year, the empire has been turned around by Robert Iger

    Andrew Clark in New York
    Monday November 20, 2006

    A one-time weatherman with an instinct for American family values has brought back the good times at Walt Disney, the sprawling entertainment empire that is enjoying a renaissance on Wall Street and in cinema box offices.Robert Iger, who began his career as a forecaster on a local television channel in New York state, took over as chief executive of Disney in October last year. At the time, vicious infighting and a struggling animation business had cast a cloud over the so-called Magic Kingdom.
    The changes are clear in Disney's bottom line. Net profits for the year to September jumped 33% to $3.37bn. The biggest improvement came from films, where earnings leapt from $207m to $729m. But theme parks rose 30% to $1.53bn, helped by a new Hong Kong Disneyland and two hikes in entry prices.
    Source: Guardian Unlimited (for more details)

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