Darkbeer
07-24-2003, 02:04 PM
The tragic kingdom (http://www.economist.com/business/displayStory.cfm?story_id=1942914) - The Economist, 7/24/03
Sub-Title: Why Michael Eisner's reign at Disney should end before it is too late
QuikQuote: “Organisations this large and complex need strong partnerships at the top,” says Roger Fransecky of the Apogee Group in New York, which advises many media bosses, “and Disney does not seem to have one.” Robert Iger, Disney's chief operating officer, has not managed to fill the gap left by the death in a helicopter crash in 1994 of Frank Wells. Mr Wells was able to temper Mr Eisner's brusque management style during the firm's boom years.
If forced to nominate a successor, Mr Eisner would probably opt for Mr Iger. But people inside and outside the company doubt he is up to the job. Rumours suggest that outside candidates such as Peter Chernin of NewsCorp and Jeffrey Bewkes of AOL Time Warner have been sounded out by investors about what should be done at Disney. But there is also speculation that Disney's future lies in becoming a takeover target. The likeliest suitor is Comcast, which could marry Disney's content with its distribution power. Comcast's executive vice-president, Stephen Burke, knows Disney's assets well, since he was president of ABC Broadcasting until 1998. The return of the lost leader; now there is a plot Disney should be able to understand.
Sub-Title: Why Michael Eisner's reign at Disney should end before it is too late
QuikQuote: “Organisations this large and complex need strong partnerships at the top,” says Roger Fransecky of the Apogee Group in New York, which advises many media bosses, “and Disney does not seem to have one.” Robert Iger, Disney's chief operating officer, has not managed to fill the gap left by the death in a helicopter crash in 1994 of Frank Wells. Mr Wells was able to temper Mr Eisner's brusque management style during the firm's boom years.
If forced to nominate a successor, Mr Eisner would probably opt for Mr Iger. But people inside and outside the company doubt he is up to the job. Rumours suggest that outside candidates such as Peter Chernin of NewsCorp and Jeffrey Bewkes of AOL Time Warner have been sounded out by investors about what should be done at Disney. But there is also speculation that Disney's future lies in becoming a takeover target. The likeliest suitor is Comcast, which could marry Disney's content with its distribution power. Comcast's executive vice-president, Stephen Burke, knows Disney's assets well, since he was president of ABC Broadcasting until 1998. The return of the lost leader; now there is a plot Disney should be able to understand.