Disney to produce fewer movies, cut jobs

LOS ANGELES - The Walt Disney Co. said today it plans to reduce annual movie production and cut about 650 jobs as it shifts toward more Disney-branded movies.

The company said it will produce and distribute about 10 Disney live-action and animated films a year and two to three Touchstone films a year. Currently, Disney produces about 18 movies a year.

The movie studio is expected to reduce its work force by about 650 positions worldwide, the company said.

The company said Oren Aviv, currently chief creative officer at Walt Disney Studios, has been tapped to be president of production at Walt Disney Pictures, overseeing live-action development and film production.

Nina Jacobson, who was president of production, and Walt Disney Motion Pictures Group, will be leaving the company, Disney said.

Disney also said it has restructured several of its business units under two global organizations - Buena Vista Worldwide Marketing and Distribution, and Buena Vista Worldwide Home Entertainment.

Mark Zoradi has been appointed president, Walt Disney Motion Pictures Group and will oversee the distribution and marketing of films from Disney and Touchstone Pictures, a unit of Disney.

Robert Chapek has been named president, Buena Vista Worldwide Home Entertainment, and will oversee distribution and marketing of films on home entertainment platforms.

"The consolidation of global marketing and distribution is extremely important as we continue to adapt to the vastly changing world," Disney Chairman Dick Cook said in a statement.

The company said that its Walt Disney Feature Animation, Pixar Studios, Miramax Films, Buena Vista Music Group and Buena Vista Theatrical Productions will not be affected by the reorganization.

- REUTERS