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Disney Chairman Rich Ross Fired Steps Down After John Carter Flop!

Filed under: Film FlickersDisneySad SadBusiness Blitz


Sometimes, all it takes is one epic bust!

Walt Disney Studios Charmain, and former President of Disney Channels Worldwide Rich Ross has reportedly been canned from his current position, which he's held since 2009, after the $200 million flop that was John Carter landed itself as one the worst film failures in Hollywood history.

In a statement he sent out to his staff yesterday, Ross writes:

For the last 15 years, I have had the opportunity to work with incredibly talented people on behalf of the world’s best loved brand. During that time, we’ve told some amazing stories around the world, created successful TV programming, movies, and franchises that generated new opportunities for the company in the process.

I’ve always said our success is created and driven by our people – whom I consider to be the absolute best in the business. But, the best people need to be in the right jobs, in roles they are passionate about, doing work that leverages the full range of their abilities. It’s one of the leadership lessons I’ve learned during my career, and it’s something I’ve been giving a great deal of thought to as I look at the challenges and opportunities ahead.

I believe in this extraordinary Walt Disney Studios team, and I believe in our strong slate of films and our ability to make and market them better than anyone else. But, I no longer believe the Chairman role is the right professional fit for me. For that reason, I have made the very difficult decision to step down as Chairman of The Walt Disney Studios, effective today.

It has been my honor to work with such incredible teams – at Disney Channels Worldwide and The Walt Disney Studios and the many other Disney businesses I’ve had the opportunity to collaborate with. I know I leave the Studios in good hands and, even on separate paths, I am confident we are all destined for continued success.


Such a shame that it he has to end his run with the company this way - especially as he was also responsible for the monster successes of Hannah Montana and High School Musical!

But that's the nature of the beast, we suppose - you just never know what's going to blow up and make tons of money, and what's going to end your career in a matter of days!

Best of luck, Rich! You're in our thoughts!

P.S. Check out the statement on the matter from Disney Chairman/CEO Bob IgerAFTER THE JUMP!

[Image via WENN.]

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Mariah Carey Named The Fairy Godmother Of The New Disney Cruise Ship!

Filed under: Mariah CareyDisneyNick Cannon

We couldn't think of a better choice!

In honor of Disney's brand new cruise ship Fantasy, Mariah Carey was invited to the ceremony this week in New York City, alongside husband Nick Cannon, to christen the luxury liner, and be named its official Fairy Godmother by Disney CEO Bob Iger, Disney Parks and Resorts Chairman Tom Staggs, and of course, Mickey and Minnie Mouse!

Ch-ch-check it out (above)!

Such a cool occasion! And the ship looks BEAUTIFUL!

As does Mimi, of course! And glad to see Nick looking in good health, after everything he's been through this month!

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Construction On Disneyland Shanghai To Begin THIS FRIDAY!!!

Filed under: DisneyBusiness Blitz

disneyland shanghai construction starts this week

Very exciting!

Way back in November 09, we learned that Disneyland Shanghai was officially a go!

Now, nearly a year and a half later, the Walt Disney Co. is finally ready to begin construction on the theme park!

On April 8, Disney CEO Bob Iger will oversee the beginning of construction on the $3.7 billion "initial phase of construction," which will "cover 1.5 square miles" and will include "a theme park and two hotels, and…additional 1.1 square miles for further development."

The park is currently scheduled to open in 2016 in China's Pudong district, and it will be the sixth Disney theme park to be launched around the world.

So cool! We can't wait to see it when it's completed!

Will U visit Disneyland Shanghai when it opens in 2016?

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Media Moguls' Salaries Going Up Once Again…

Filed under: Media MinuteDisneyBusiness Blitz

media moguls recent stats

Curious to hear which media moguls made mad money in the past couple of years?

Here are some recent yearly total compensation stats from the highest paid moguls in the entertainment industry:

-Disney's Bob Iger earned $28 million total in 2010

-Viacom's Philippe Dauman earned $84.5 million total in 2010

-CBS' Les Moonves earned $43.2 million in 2009

-News Corp's Rupert Murdoch earned $22.7 million in 2010

Certainly, there are some moguls who have taken paycuts for the sake of their companies, but the big guys here seem to be doing quite well for themselves…especially Philippe!

$84.5 million?!?!?!? It's good to be the President/CEO of Viacom!

What do U think of these salaries? Do U think these media moguls are getting paid what they deserve?

[Image via WENN.]

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Disney Sells Miramax For $660 MILLION!

Filed under: Film FlickersDisneyBusiness Blitz


It's a done deal!

Disney announced yesterday that they have sold Miramax Films to Filmyard Holdings LLC - and its partners Ron Tutor and Tom Barrack - for a whopping $660 million!

The deal should go through sometime between September and January of 2011.

Disney President and CEO Bob Iger says:

"Although we are very proud of Miramax's many accomplishments, our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands. We are delighted that we have found a home for the Miramax brand and Miramax's very highly regarded motion picture library.”

And Ron Tutor elaborates:

“I am delighted and honored to acquire the Miramax library. On behalf of my partners Tom Barrack and Colony Capital, we look forward to sharing this high quality content with the world in every form of media for many years to come.”

Big switch up! We wonder what this will mean for Miramax and its current employees!

What do U think??

[Image via WENN.]

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