walt disney co/the (DIS) Key Developments
Kudelski Group Signs a Multi-Year Patent Licence Agreement with The Walt Disney Company
Apr 28 15
Kudelski Group has signed a multi-year patent licence agreement with The Walt Disney Company. While its specific terms remain confidential, it provides The Walt Disney Company with a licence to the Kudelski Group's patent portfolio, subject to certain limitations.
InCom Corp. Files Lawsuit against The Walt Disney Co. for Theme Park Giant's Attendance Tracking and MagicBands Illegally Use Technology
Apr 24 15
InCom Corp. filed a federal lawsuit against The Walt Disney Co. on April 23, 2015 claiming that the theme park giant's attendance tracking and MagicBands illegally use technology it developed. InCom claims Disney's MagicBands infringe of three patents the company developed in 2008 for an attendance tracking system. The Disney MagicBand is part of the company's MyMagic+ program and acts as a hotel key, theme park ticket, payments system, FastPass and more. It was a nearly billion-dollar investment for Disney, but is said to make vacation planning easier for Orlando's 62 million tourists who visit annually.
The Walt Disney Company Presents at Milken Institute, Global Conference 2015, Apr-27-2015 05:00 PM
Apr 23 15
The Walt Disney Company Presents at Milken Institute, Global Conference 2015, Apr-27-2015 05:00 PM. Venue: 2025 Ave Of The Stars, Los Angeles, CA 90067, California, United States. Speakers: Robert A. Iger, Chairman, Chief Executive Officer and Member of Executive Committee.
Muneefa Abdullah Sues Walt Disney
Apr 15 15
An author sued Walt Disney Co. in federal court claiming the movie 'Frozen' ripped off her short story about a snow princess. Kuwaiti author Muneefa Abdullah alleges 'Frozen' copied plot elements, themes and characters from her children's story 'The Snow Princess', most notably Elsa, the princess who has the power to turn people into ice. The copyright infringement lawsuit, which was filed in Detroit's federal court, seeks unspecified damages. Her story, 'The Snow Princess', was published in the compilation 'New Fairy Tales' in 2007 by Trafford Publishing. The publishing firm later became part of Random House Publishing, which employed Lee for eight years.
The Walt Disney Company Enters into $1.5 Billion 364-Day Credit Agreement
Mar 13 15
On March 13, 2015, The Walt Disney Company entered into a new $1.5 billion 364-Day credit agreement with a syndicate of lenders to support commercial paper borrowings and for other general corporate purposes. The new facility will expire on March 11, 2016. Under the new facility, as with the company's existing $1.5 billion 364-Day credit agreement, the company has the option to borrow at LIBOR-based rates plus a spread, subject to a cap and a floor that vary with the company's debt rating, depending on the credit default swap spread applicable to the company's senior, unsecured, non-credit enhanced long-term debt. The remaining provisions of the new facility, including representations, warranties, covenants and events of default, are also substantially similar to the provisions of the existing 364-Day facility. In particular, the new facility contains only one financial covenant, relating to interest coverage, and specifically excludes certain entities, including Euro Disney, Hong Kong Disneyland and Shanghai Disney Resort, from any representations, covenants or events of default.