|
Disney's Laybourne resigns
|
 |
May 28, 1998: 4:16 p.m. ET
Executive leaving to form own media company; Disney to invest in venture
|
NEW YORK (CNNfn) - Geraldine Laybourne, the woman who steered Nickelodeon to cable success, is leaving her current position as president of Walt Disney Co.'s cable networks to form a new media company focusing on women's and children's programming.
Disney (DIS) said Thursday it is investing in the venture, which will develop content for network and cable television, as well as the Internet. Disney has also entered into an agreement with Laybourne giving the media company and its ABC unit preferred access to children's programming developed by the new company.
"The new venture will be horizontally integrated and have access to distribution through relationships with a wide array of companies," said Laybourne. "Having this arrangement with ABC allows us to hit the ground running."
Industry analysts called the resignation a disappointment to Disney, but said it likely would have little impact on the company's cable operations.
"Laybourne definitely brought a level of expertise to [Disney's] children's programming that was highly regarded, but I suspect all the strategies have been put in place at this point," said Jill Krutick, entertainment analyst at Smith Barney.
"(Disney) is investing in her venture anyhow, so they are not missing much in this regard," said Cowen & Co. entertainment industry analyst Harold Vogel, adding the company "is doing fine."
President of Disney/ABC Cable Networks since 1996, Laybourne helped revamp ABC's Saturday morning children's programming schedule and successfully repositioned the Disney Channel. She also oversaw the Lifetime, A&E, History Channel and E! cable networks.
Previously Laybourne ran Nickelodeon, molding it into one of cable's leading channels and helping to develop the popular Nick at Nite format.
A company spokesman said Disney will decide on Laybourne's successor by late summer. Analysts predict an internal candidate will fill her shoes.
"They have plenty of people who will be very effective," said Vogel.
-- by staff writer Nicole Jacoby
|
|
|
|
|
|
Disney
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
