Roy Disney selling 40% of his stake (http://money.cnn.com/2003/08/21/news/companies/roy_disney.reut/) - CNN, 8/21/03

QuikQuote: Roy Disney, the nephew of Walt Disney and vice chairman of Walt Disney Co., has said he struck a deal to sell more than 40 percent of his stake in the company in which he was the largest individual shareholder.
Disney, 73, entered into a forward contract for the sale of 7.5 million Disney shares for about $163 million, but will keep voting control of the stock for five years, a spokesman said Wednesday.

Oy, that tells you something about Roy's confidence about Disney's future :(

Ya think maybe it has something to do with Michael Eisner slicing and dicing Roy's animation department? Just maybe? :rolleyes: :mad: :crying:

One can only pray that Roy is up to something, just like in 1984...

Who did he sell them to who would let him keep voting control for five years?

Originally posted by Iceman
Who did he sell them to who would let him keep voting control for five years? Not that hard to fathom. Many people would agree to just about anything to eventually control that much Disney stock, even if it's not officially until 5 years down the line.

Hasn't Roy been looking for a way out for years?

Originally posted by Ghoulish Delight
Hasn't Roy been looking for a way out for years?

I had heard that Roy much prefered helming his yacht to helming the Disney Corporation. Perhaps this is another move in that direction.

Originally posted by cemeinke
I had heard that Roy much prefered helming his yacht to helming the Disney Corporation. Perhaps this is another move in that direction.

You mean the yaght that is named Pyewacket?;)