Analysts: Disney layoffs tied to Lucasfilm, Marvel acquisitions
6 views - published on April 11th, 2013 in Disney News tagged Disney, disney news, disneyland, walt disney, walt disney worldAnalysts pronounced that a layoffs, that were reliable by a Burbank-based association Wednesday, are substantially associated to redundancies combined by Disney’s new acquisitions of Marvel Entertainment in 2009 and Lucasfilm in 2012.
“I am certain there is some overlie from those acquisitions,” pronounced Disney researcher Harold Vogel, boss of Vogel Capital Management.
The cuts, that are approaching to impact a studio’s selling and home party groups and presumably other areas, are believed to be a outcome of an inner corporate examination instituted by Disney Chief Executive Bob Iger.
“As partial of an ongoing examination to safeguard that a studios’ operational structure and economics align with a final of a tide marketplace, we have done a formidable preference to revoke a staffing levels in several groups of a studio,” a Disney orator pronounced in a statement.
Disney declined to criticism on a specific series of crew affected. According to a 2012 filing with a Securities Exchange Commission, a association had 166,000 employees during a finish of a final mercantile year.
Disney’s studio had a strike this year with “Oz a Great and Powerful,” that so distant has grossed about $454 million worldwide. Its remaining 2013 in-house, live-action releases are Johnny Depp’s “The Lone Ranger” and Tom Hanks’ “Saving Mr. Banks,” that is about association owner Walt Disney and a creation of a classical “Mary Poppins.”
Several of Disney’s arriving biggest projects are being done by units like Marvel Studios, writer of “Iron Man 3,” that will be expelled May 3. Also stirring this year is Disney subsidiary Pixar’s “Monsters University,” that is set for recover Jun 21. And a merger of Lucasfilm would concede Disney to recover a tide of “Star Wars” films done by that newly-acquired company.
Analyst Doug Creutz, who covers Disney for Cowen Co., pronounced it creates clarity that Disney would revoke beyond during a studio now that a association is releasing fewer homegrown cinema and relying on other groups to supply content.
“It has been a shred where a opening has been choppy for a while and they are looking for ways to improve,” he said. “They are looking to get down to a tiny series of focused bets in that business and therefore we might not need as most overheard to do that. Particularly when a lot of your large bets are entrance from Marvel and Lucasfilm.”
On Apr 3, Disney’s Lucasfilm auxiliary announced that a video diversion unit, LucasArts, would no longer rise games. As a result, a association pronounced there were “layoffs opposite a organization,” yet Lucasfilm did not contend how many employees during San Francisco-based LucasArts would be affected.
Disney’s batch sealed during $60.11 on Wednesday, not distant from a all-time high of $60.14 set progressing in a day.
The association will recover a second-quarter gain May 6.
ALSO:
Walt Disney Co. approaching to start layoffs
Walt Disney Co. confirms layoffs during film studio
Disney’s LucasArts halts video diversion development
daniel.miller@latimes.com