Disney division tunes up for growth
Several Walt Disney Co. divisions were in focus Thursday at a handful of separate presentations and announcements. ABC Radio division president John Hare touted the strength of his unit in a tough market, while Children's Place stores said it has signed a nonbinding letter of intent to buy the Disney Stores as part of its ongoing negotiations, disclosed in June, to take over the retail chain from Disney. Speaking at an investment forum hosted by J.P. Morgan Securities, Hare said he sees some improvement coming later this year for radio ad revenue but that so far this year, revenue was up only in the low-single digits, in line with the rest of the industry. Hare said he sees a good deal of upside remaining in radio advertising overall and admitted that the industry "needs to get the message out" about the merits of radio vis-a-vis other media.
- 8/6/2004
- The Hollywood Reporter - Movie News
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