[Park Hopper]

On the eve of a three-day investors conference here in Orlando, Disney's Board of Directors fired back at Roy E. Disney and Stanley Gold. Perhaps coincidentally, and perhaps not, the company also ran a full-page color ad in the Orlando Sentinel and other major newspapers touting their entertainment brand.

Here's the text of the Sentinel article, as well as the color ad:

Disney board takes aim at dissidents
Both sides are waging an intense campaign over Michael Eisner's future.
By Richard Verrier
Sentinel Staff Writer

February 10, 2004

The Walt Disney Co.'s board of directors are firing back at Roy E. Disney and Stanley Gold, accusing their former colleagues of conducting a "misleading and distorted campaign" against the entertainment giant.

"You should be disturbed by this attack, which comes at a time when your company is achieving very positive results," the board wrote in an open letter to shareholders.

The letter, disclosed Monday in a regulatory filing, is the board's strongest defense yet of Disney Chairman Michael Eisner. It comes amid intense campaigning on both sides to woo investors in advance of the annual shareholders' meeting, being held March 3 in Philadelphia.

Disney and Gold quit the board late last year and have since mounted an aggressive effort to unseat Eisner. They have urged shareholders to vote against Eisner and three other directors up for re-election, citing Disney's poor performance in the past decade.

Disney's counteroffensive culminates this week with a three-day investor conference in Orlando that kicks off Wednesday with the release of what is expected to be strong results for the first quarter of fiscal 2004.

Meanwhile, Disney ran full-page advertisements in several major newspapers on Monday touting its position as "The world's leading family entertainment brand." The ads featured a blown-up picture of the company's icon, Mickey Mouse, and are part of a series of marketing efforts centered around the 75th anniversary of Mickey's creation, Disney spokesman John Spelich said. "I think it's more of a coincidence of the timing," he said.

In its letter, the board praised Eisner, citing a 43 percent rise in Disney's stock price in 2003, successes at the Disney studio, ESPN and the Disney Channel, as well as improvements in the theme-park business.

"They totally ignore the impressive performance record of Michael Eisner," the letter states.

The board said Gold and Disney "championed some of the very business decisions they now condemn" and distorted facts about individual directors.

Gold and Disney responded to the letter by saying "it appears that the Board continues to resist independent, thoughtful consideration of opinions raised in opposition to Michael Eisner."

[tinkerbell]

Park Hopper thanks for the wonderful info .. I see it as
just maybe Eisner has something to fear. which in MHO is a good thing.

[LRTJS]

Thanks again PH for this info which most of us would not have known about without you. More food for thought on this issue. Personally I just don't think Eisner understands the magic like all of us here do.:nervous

[Disneybound]

I think he is totally clueless.

[Donald1010]

He has lost touch with those of us who know what the magic of disney is. I have watched it go from reasonable for a family to go to a year or so's worth of savings to go to the parks.

Not to mention the prices of the products they sale I know they must compete with other parks but it seems he has forgotten the ones who grew up on the magic and who would now like to share that magic with their children or grandchildren and find it hard to do.

It's a shame for such a Wonderful place to be closed to so many, and the magic is place out of reach.

[antimerger]

Originally posted by Disneybound
I think he is totally clueless.

Defintely Eisner is clueless.
So do save Disney by voting NO!

How to vote NO- go to savedisney.com
Anti-merger and the Vote NO! t-shirts- go to cafepress

[JM0318]

I have already voted my proxy, but I was sent a copy of this letter to try and change my vote... so I sent them a letter back telling them how the parks have become rundown and in need of lots of maintenance... I also told them how dirty the park was on one of my many visits... That was the reason it was so easy for Roy Disney to tell about what was happening in all the parks... It showed where they had made bad decisions on park maintenance. I also told them that I did not like the decisions they have made on the new rides, that they are no more than glorified carnival rides, with no imagination. So my vote would stay the same. Sorry about the soap box...
I still love Disney with all my heart... it is my very favorite place in the world to me...
:heart :) :heart Judy