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American Morning

Interview of Michael Eisner, Disney CEO

Aired March 15, 2002 - 09:14   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
PAULA ZAHN, CNN ANCHOR: I want to change our focus a little bit right now. This week marks the 10th anniversary of Euro Disney outside of Paris, and it was very controversial when it first opened, at a time when other theme park attendance is way down, Euro Disney has been a shining star in Disney's firmament, and joining us live from Euro Disney, Disney Chairman Michael Eisner. Good to see you again, Michael. Welcome.

MICHAEL EISNER, CHIEF EXECUTIVE OFFICER, DISNEY: Thank you, Paula. We need you and your cello here now.

ZAHN: Oh, well, thank you. I don't know how much entertaining I would be doing, but.... We need to make it clear that your company is having some problems right now, the stock price depressed. What is it you are counting on Euro Disney to do to change that financial picture...

And we just changed the financial picture because we lost Michael Eisner. Now, it wasn't that he didn't like the question. We actually have just lost our line to Paris. Let me see if we can get it back up.

We can't. We're going to try to bring Mr. Eisner back on the other side. We'll be right back.

(COMMERCIAL BREAK)

ZAHN: And we are back, keeping both fingers crossed here with Michael Eisner, chairman of the Disney Corporation, who joins us from Euro Disney.

Sorry about that little interruption there. The satellite guides were not with us -- welcome back.

EISNER: Thank you. No problem.

ZAHN: Before I was rudely interrupted by the satellite going down, we were talking about the company's stock price and how you are counting on Euro Disney, perhaps, to get a pop back up there. What are your expectations for Euro Disney?

EISNER: Well, it is not only Euro Disney. We are -- you know, extremely enthusiastic about Euro Disney. We built three parks and opened them in the last 15 months, and our park business is doing extremely well. I don't know if this is an indication of the economy, but, in February, we had at Walt Disney World the largest number of reservations in our history, of any year, any time. So, it seems like Americans are getting out, now picking up from their delayed vacations, and picking up the phone and making reservations.

As for Euro Disney, this company, in its 10th anniversary, now with its second park, has had an enormous effect on the whole, east of Paris, and whereas 10 years ago we were considered American, and maybe a little bit American imperialism, and that problem. Today, we are completely part of the French culture, the Eiffel Tower, Disneyland Paris, now the Walt Disney Studios Paris. So, I think people are talking about our problems in somewhat of an exaggerated way. We're very enthusiastic.

ZAHN: So, as a result of September 11th, what kind of security changes have you had to make at all of your parks to make visitors feel more secure?

EISNER: Well, we don't really talk about that very much. Obviously, we took the protection of our guests very seriously before September 11th, and therefore, only had to make modest increases after September 11th. You know, almost everybody recognizes that we're a place for families, and fun, and silliness, and so forth, and we're comfortable.

ZAHN: I would also like to talk to you, probably, about one of your least favorite subjects right now, and that is the Letterman- Koppel battle.

We know that Ted Koppel has asked for reassurances for your company, for a certain commitment to the length of the time of the show. You have had conversations with him. Have you given him that reassurance?

EISNER: Well, I have talked to Ted Koppel. I have a very good relationship with all of our newscasters, as does Bob Iger. I think you know that. We are very supportive of ABC News, and I, personally, have not continued the conversations about what the show is going to be, and how long it is going to be, and all the rest of it, but I assure you that we have tremendous respect for Peter Jennings, and Diane Sawyer, and Barbara Walters, and Charlie Gibson, and Ted Koppel and the rest.

So, I think this was a bigger media story, although an important one. I mean, David Letterman is a fantastic performer, and we would have been very happy to have both Ted Koppel and David Letterman. Didn't work out that way, we are still very happy to have Ted Koppel.

ZAHN: How close did you get to getting David Letterman?

EISNER: Well, depends who you listen to. We were -- I was not on the line, I was listening to the people at ABC. They were really encouraged. They thought they were going to get David Letterman. We had very strong stations to lead into David Letterman. We are number one in all of our station newses (ph). We were optimistic. I, on the other hand, did write, at one point, to a couple of people saying I envisioned David Letterman saying on Monday night, when he gets back, I love ABC, I love Bob Iger, I love Lloyd Braun, I love our guys. But you know what? I also like Ted Koppel, I think I will stay at CBS so we can both stay on the air. I envisioned that, and unfortunately, I guess, for us, that is what happened.

ZAHN: Do you see Ted Koppel staying at ABC until the end of his contract?

EISNER: I hope so. He is a -- enormously gifted news person, producer, he works with man who you probably know, Tom Bettag, and a whole staff, they do great, great work, and we would be unhappy. He's been at ABC, I think, maybe even a few years longer than I have, and we would be disappointed if he were not at ABC.

ZAHN: Michael, I want to close with a final thought about this sea change in attitude of the Europeans, and their thoughts about Disney and Mickey. What explains this more tolerant attitude of all things American and all things Disney?

EISNER: Well, first of all, where we started out as being one of those -- what they thought were companies coming into France from a foreign culture, they now realize that we're -- we really are Disney, and quality, in the end, won out. People come here, and they really have a good time.

They also know that -- you know, the Disney company owns the Miramax film company. Miramax distributes, amongst other things, "Amelie," up for five Academy Award nominations. Miramax has three French films that they are distributing as we speak. They distributed "Chocolat" last year. Miramax and Disney are making movies in France.

We do not object to the French system of film making, so between our cultural acceptance, and the fact that this park has the quality of our parks in the U.S., I think the French have finally said we're one of them. We've been here since 1930, and I think we are now considered French, maybe.

ZAHN: Well, good luck with the anniversary celebrations, and the big opening you have planned for tomorrow. Thank you very much for joining us. Again, I apologize for our little satellite problem there.

EISNER: Thank you, Paula. I appreciate you talking to me.

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