Upbeat Cynicism

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Disney CEO Robert Iger is possessed of massive amounts of chutzpahLibertas):

Top brass at Disney were called on Thursday to defend their decision not to release The Path to 9/11 on DVD and to justify CEO Robert Iger’s $27.7 million pay package.

Path was a 2006 ABC miniseries critical of President Bill Clinton’s handling of terrorist threats that was so controversial it prompted leading Democrats to ask Disney not to air the program. Disney, after making some hasty edits, ran it commercial-free.

At Disney’s annual shareholders’ meeting in Albuquerque, N.M., one mutual fund portfolio manager said it was high time Disney turn Path into a DVD and recoup some of the $40 million it spent on the project.

The fund manager, Tom Borelli, accused Iger of protecting HIllary Clinton’s presidential campaign at the expense of shareholders and pointed out that Iger has been a steady Clinton donor since before the former first lady was elected to the Senate.

He claimed to have a letter from a Lionsgate representative proving that Disney has no intention of even selling the DVD rights to another company.

The Path question came shortly after another shareholder objected to foul language and persistent sexual innuendos on such ABC shows as Ugly Betty and Good Morning America, prompting Iger to cite ABC’s right of free speech. Borelli demanded to know why Iger seemed more interested in protecting curse words than he was in protecting political speech.

The fund manager noted Disney’s reported $46 million profit on Fahrenheit 9/11, also a politically controversial project — though far more critical of Republicans than Democrats.

Seemingly taken-aback, Iger assured the shareholder that his decision on the DVD was based purely on business considerations and not on politics.

“Business considerations”? “Business considerations“???

Disney is $40 million in the hole on this — in fact deeper than that, since the miniseries ran commercial free in prime time over more than one night, thus incurring the further loss of whatever revenues would have been generated by running standard commercial programming in the same slots.

What possible business considerations could explain this?

Nope, Iger is lying. It’s political, there can be no other explanation for steadfastly refusing to recoup even a single dollar from a $40 million project.

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Written by [IMH]

8 March 2008 at 9:50 am

Posted in Uncategorized

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