The change won’t take effect until 2015, and analysts don’t see the loss of advertising hurting the overall bottom line at a company that brings in $43 billion in annual revenue. Still, the move signals a turning point in how television is used to market to American children, nearly a quarter of whom aged 6 to 11 are obese, according to a Centers for Disease Control survey.
Walt Disney Co, owner of the ABC broadcast network and a suite of cable channels, will stop accepting some junk food ads on TV programs, radio shows and websites aimed at children, according to sources with knowledge of the plan.
Strong advertising revenue growth continues for the likes of Walt Disney’s cable networks, as well as its broadcasting network for its fiscal second quarter. And more is coming. “We are anticipating a strong upfront,” says Disney CEO Bob Iger. ABC stations had lower programming costs during the period due to the syndicated Oprah Winfrey Show leaving the airwaves last September.
Hulu.com owners Walt Disney Co., Comcast and News Corp. are close to buying out Providence Equity Partners’ stake at a price valuing the company at about $2 billion, said two people with knowledge of the matter. Providence is selling its 10% of Hulu for about $200 million after investing $100 million when the venture began in 2007, according to the people, who weren’t authorized to talk publicly.
Executives from News Corp., NBCUniversal, the Walt Disney Co. and the National Association of Broadcasters met with officials at the FCC on Monday to express their displeasure at proposed public interest rules that would force TV networks to share details online about political advertising, including the rates that political campaigns pay for ad time.
The decrease is attributed to lower political advertising revenues at its O&Os and higher marketing costs, partially offset by lower programming and production costs due to the absence of the Oprah Winfrey Show at the owned stations.
Walt Disney Co. Chief Executive Bob Iger received nearly $31.4 million in total compensation last year, an 11.9% increase from 2010, according to a filing with the Securities and Exchange Commission.
The 10-year agreement provides Xfinity TV customers broad access to sports, news and entertainment content across multiple screens in and out of the home. Also included are retransmission consent rights for the seven ABC O&Os.
Disney President-CEO Bob Iger has been named to Apple’s board of directors, the company announced on Tuesday. The move strengthens the ties between the tech giant and the studio.