Roy Disney and Stanley Gold Say Comcast Presentation Highlighted Many of Same Issues They Have Been Raising With Shareholders; Inherent Value in Disney's Assets Has Not Been Realized; Failures Made Disney an Attractive Target
By Roy Disney and Stanley Gold
Feb 11, 2004, 12:50
BURBANK, Calif., Feb. 11 /PRNewswire/ -- Roy E. Disney and Stanley Gold said that "the Comcast presentation today highlighted many of the same issues that we have raised for weeks with shareholders. The areas Comcast listed as needing improvement are basically the same ones we have highlighted -- animation, the theme parks, ABC and the ABC Family Channel.
"We have long maintained that the inherent value in Disney's assets has not been realized by current management and that this Board has failed to take the necessary steps to restore long-term shareholder value and to hold management accountable for its failures," Messrs. Disney and Gold said. "We believe those failures have made Disney an attractive target for those that recognize, as we do, that with the right leadership the extremely valuable assets of Disney can be properly utilized to create lasting and significant value.
"Today's action by Comcast makes it more important than ever that shareholders send a message to management and the Board by withholding their votes on Michael Eisner, John Bryson, George Mitchell and Judith Estrin. Disney's shareholders deserve a board that looks at what is best for the company and its shareholders," they stated.
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