Walt Disney CEO Michael Eisner is interviewed by James
Bates of the L.A. TIMES and while he would not confirm plans
to sell the Angels and Mighty Ducks, Bates writes that
"reading between the lines, it's clear the company is poised
to divest." When asked if that would be difficult since the
sports operations are considered his "pet projects," Eisner
"bristles" and says, "You don't have to own the team to be a
fan." Eisner speaks of the company's initial reasons for
getting into team ownership, as it was part of a "larger
investment" in Anaheim and Orange County. The Ducks
provided a tenant to The Pond and Disney "scored points"
with local leaders by helping to renovate Edison Field.
Bates: "In Eisner's view, those strategies worked, which
suggests he's ready to move on." Eisner said that another
"plus to sports ownership has been to use the influence it
brings to change the rules of the games to make for better
sports television, which he said is much more important to
the company than owning teams. He specifically cites the
NHL's decision to change overtime games to four skaters for
each side." Eisner adds that "ultimately he's uncomfortable
with the potential conflicts that Disney has in owning
sports teams while owning ESPN and ABC, yet another hint
that he's a potential seller" (L.A. TIMES, 8/17).
BIG PICTURE: For the company, Eisner "wants to take the
focus off short-term growth prospects and instead put it on
long-term ones, such as the company's Internet strategy and
huge theme park investments in Florida." Eisner: "I'm much
more interested in long-term shareholders than short-term
shareholders. I don't think you can create giant wealth in
a matter of days" (L.A. TIMES, 8/17).
