Disney Digest 2/29/24 (The Disney Grandkids Speak Out, “Tron: Ares” First Look, McAfee’s Feud, and More)

I apologize for the delay today. I am going to blame San Francisco traffic. Today, we are going to get the latest from the proxy battle

The Grandkids Speak Out

The descendants of Walt and Roy Disney have a complicated relationship with The Walt Disney Company. Some have been cheerleaders while others have had an adversarial relationship with the company. But, if even Abigail Disney, who made an anti-Disney Company documentary,  supports Bob Iger over Nelson Peltz, you know that even if they don’t agree on everything, they take the threat Peltz presents as a dangerous one. Out of respect to the family that has given me much joy, I am going to cede this space to their thoughts and letters.

Walt’s Family:

As the family of Walt Disney, we support The Walt Disney Company management and its Board of Directors, and oppose the nominations put forth by Nelson Peltz. The integrity in the name of Walt Disney has always been a priority to our family. Our mother — Diane Disney Miller, Walt’s eldest daughter — created The Walt Disney Family Museum to ensure that the history of her father’s life and those involved in the creation of his dreams would be honored and remembered. We still believe in this brand of integrity and storytelling.

Bob Iger has grown this company in a modern world, and he continues to maintain a balance of creativity and profit. It is still a company based on the desire to entertain and explore. There have been challenging times, but this current management has adjusted and grown through those challenges.

We are never without gratitude and pride for our grandfather and being a part of this family, and we will always cherish the memories and the life that we had with him. With this gratitude, it matters to us what the company does and how Walt Disney is represented.

As such, we support Bob Iger and The Walt Disney Company Board.

Sincerely,

Walter Elias Disney Miller

Tamara Diane Miller

Jennifer Miller-Goff

Joanna Sharon Miller

Roy’s Family:

As the grandchildren of Roy O. Disney, we grew up with a front row seat to the magic that fuels the remarkable company he and his brother Walt Disney built together. We spent our childhoods on the studio lot watching movies get made. We explored Disneyland with the creative geniuses behind the happiest place on earth. We saw the passion Walt and Roy had for creating life-long memories for children and families, and the infectious joy they got out of the work they did.

From Mickey and Minnie, to Snow White and Mary Poppins, Disney is not a company that makes widgets – it makes magic. And it takes a special group of leaders with a deep respect and understanding for this tradition to develop the kinds of incredible experiences – whether in a theme park, at a movie theatre, or in your own home – that touch people’s hearts.

Bob Iger, his management team, and the Board of Directors are faithful to this magic. They understand that the longevity of The Walt Disney Company isn’t only the result of smart business decisions; it is rooted in the strong emotional connection Disney continues to forge with generations of people from around the globe.

We may not agree about everything, but we know that our grandfather would be especially proud of what Disney means to the world today. We also know that, like us, he would be very concerned by the threat posed by self-anointed “activist investors” who are really wolves in sheep’s clothing, just waiting to tear Disney apart if they can trick shareholders into opening the door for them. What concerns us most about these hedge-fund-backed opportunists is that they have little to no knowledge of what Disney truly means to people like you. They haven’t made any arguments for why they should be entrusted with the keys to the kingdom our family built.

To the contrary, their “I alone can fix it” mentality makes clear that they are not interested in preserving the Disney magic, but stripping it to the bone to make a quick profit for themselves. We’re old enough to remember the bitter episode four decades ago when another corporate raider, Saul Steinberg — who, as it so happens, was good friends with one of the current activists, Nelson Peltz — launched a hostile takeover attempt of Disney and threatened to break apart the company. He was defeated, much as these activists must be defeated today.

This is not a company of interchangeable parts. It is home to thousands and thousands of dedicated employees who share the same passion Walt and Roy had for bringing hope and happiness to people through the magic of storytelling. Disney is lucky to be led by people who are looking to the future while drawing guidance from our cherished past. As The Walt Disney Company charts its path forward, it is imperative that the strategy Bob Iger, his management team, and the Board of Directors have implemented is not disrupted by those motivated by nothing more than their own self-interest.

Disney stories are filled with heroes and villains. We know who the villains are in this story, and we know they cannot be entrusted with protecting this company’s rich legacy or guiding its bright future.

Sincerely,

Roy P. Disney

Susan Disney Lord

Abigail E. Disney

Tim Disney

TRON Gets Unrezzed

Today, Disney revealed their first look at TRON: Ares, which started production last month and is set to be released next year. While Sean Bailey produced this installment and TRON: Legacy, based on the cast list, it seems that this installment will not be a continuation of the story told with Sam Flynn and Quorra, although there could always be a surprise reveal. It also looks as though this film will take place outside the grid as Jared Leto plays Ares who “is sent from the digital world into the real world on a dangerous mission, marking humankind’s first encounter with A.I. beings.” Is it possible Disney thinks the story of TRON would resonate more with audiences if it is more grounded in the real world.

Personally, I think The Grid is what makes TRON TRON. But I am open to them trying new ideas. Though I will miss franchise hallmarks, presuming they aren't included, such as ENCOM, Dillinger, and…. TRON himself. It has been too long for a direct sequel, but in my opinion Disney has struggled to figure out what is at the heart of their franchises. For example, after seeing The Haunted Mansion it was clear that the producers didn’t realize the least interesting thing about the franchise are the living. I hope they understand that the least interesting thing in TRON are the real world scenes.

What Is Going On With Pat McAfee?

On a new episode of the “All The Smoke” podcast, Pat McAfee further discussed his battle with ESPN’s Norby Williamson. While he didn’t mention the executive by name, previously McAfee called Williamson a rat for leaking ratings information about McAfee’s ESPN show. While there is no question that Williamson can be a controversial figure within the walls of ESPN, very few have publicly challenged the suits that run the place. There has always been a bit of a struggle between the folks that are focused on news type programs like SportsCenter and opinion shows such as McAfee’s and First Take. 

I could see the inevitable conflict between McAfee and Williamson from the moment the show was announced as coming to ESPN. But I am shocked that the news has come out in the open. Not that I expect McAfee not to challenge his foes, but I presumed as a former athlete, he would do what was best for his ESPN team and keep the locker room stuff inside the locker room. For its part, ESPN says they will be handling things internally. This public airing of grievances is unprofessional. I understand McAfee’s gripes, but if he has a direct line to Bob Iger and Jimmy Pitaro, there are other ways to exterminate rats.

Quick Hits

6 Things To Watch For Today

I won’t have a column tonight as I am traveling to Las Vegas to attend an IAAPA event. But we should be back Monday for more fun.