Region shows keen interest in Disney
A possible takeover had many speculating on the company's ties to the community.
By Jerry W. Jackson | Sentinel Staff Writer
Posted February 12, 2004
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Feb 12, 2004
Walt Disney World and Orlando are so deeply wedded to each other that the idea of a cable-TV company buying the brand -- and doing who knows what with it -- sent heads spinning Wednesday from the Magic Kingdom to City Hall.
Disney's roots extend deep into the community. It's by far the region's largest employer, with more than 50,000 workers. It's Orange County's largest taxpayer, one of the largest supporters of the arts, and the leading supplier of executive brainpower for government-advisory boards and nonprofit organizations.
But if Comcast Holdings Corp. pulls off a stunning buyout of Walt Disney Co., would that end the company's longstanding links to the region? Sever some irreplaceable tie?
Not likely, according to most community leaders. For one thing, the Disney brand, the theme parks and their tens of thousands of employees would surely stay put, they said. And Disney World brass have always reported to higher-ups far away in Southern California, where Disney has always expended most of its corporate largess.
Still, the idea of another company attempting a hostile takeover of Mickey Mouse evoked strong feelings in Central Florida.
"It's like, evil," said Dominique McDevitt, 17, a visitor from Gilbertsville, Pa., as she rode the monorail into the Magic Kingdom.
The prospect of Comcast taking over Disney is "a chilling thought," said Harris Rosen, the Orlando area's largest independent hotelier.
"Comcast is perceived as very aggressive, and I think that is too kind," Rosen said. "They are just not the sort of people we want in Central Florida, not with such a precious treasure as Disney."
Rosen, who worked in Disney hotels until 1974, said he respects CEO Michael Eisner and his management team for rescuing the entertainment giant after takeover attempts in the 1980s.
"Michael has done a magnificent job, and Central Florida and Orlando have benefited," Rosen said. "My hope and prayer is that Michael stays where he is, and that Comcast goes and causes mischief someplace else."
At the Big Bamboo Lounge in Kissimmee, a popular hangout for theme-park employees, some workers said they don't think a possible takeover would affect their jobs. And a few even look forward to the potential change.
"Anything to get Eisner out," said Patty Bond, a server and hostess at Disney's Yacht and Beach Club Resort. "I think getting Eisner out of there would be better -- period. I'd rather see the family take over. The family would do what Walt [Disney] wanted."
Alfreda Vassallo, who works at Epcot as an attractions hostess, said she hasn't heard much about Comcast.
"Is it something I'm worried about? No," she said. "Is that a bad thing? Is that a good thing? I don't know."
Orange County Chairman Rich Crotty said he was surprised when he heard about the Comcast bid.
"My first reaction was that I had heard it backward. I didn't know they had the horsepower to do something like this," Crotty said.
But if the takeover succeeds, the county chairman said, it might prove to be a plus for the community and for Disney. "If this stimulates creative juices, and if it [Disney] is actually strengthened economically, then I'm all for it."
Orlando Mayor Buddy Dyer said he had no feel for whether a sale might be good or bad -- or whether it could lead to more, not less, autonomy for Disney's mammoth Central Florida operations.
"From a historical perspective, the community is what it is because of Disney," Dyer said. "From a business standpoint, we're more inclined to want local control -- or as much local control as possible -- right here in Orlando."
"I'm going to be watching this play out with a great deal of interest, obviously," the mayor said. "We've got a great relationship with Disney, and they've been a great corporate partner with us."
Margo Knight, president of United Arts of Central Florida, predicted that, if Comcast were to buy Disney, it would probably maintain Disney World's community commitments in an effort to foster a good corporate relationship.
"We would expect their commitments to the arts would continue," Knight said. "I can't imagine that would change."
Disney is the second-largest corporate contributor to United Arts, a four-county funding agency for the Orlando Philharmonic Orchestra and other groups. The $1.25 million that Disney has pledged to the arts group over a 10-year period -- $125,000 a year -- is now in its fourth year.
"For some time there has been a feeling in the arts community that, since this is not Disney's headquarters, their participation has not been that stellar. Perhaps this might end up being an improvement," Robert Swedberg, general director of the Orlando Opera, said of a Comcast takeover.
Willoughby Mariano, Amy C. Rippel and Wes Smith of the Sentinel staff contributed to this report. Jerry W. Jackson can be reached at 407-420-5721 or
[email protected].
